PayPal (NASDAQ:PYPL) Stock Price Down 0.4% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 0.4% during trading on Thursday . The company traded as low as $68.70 and last traded at $69.71. 1,938,087 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 10,831,880 shares. The stock had previously closed at $69.97.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of analyst reports. Barclays increased their target price on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Piper Sandler dropped their price objective on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Citigroup reissued an “outperform” rating on shares of PayPal in a research report on Wednesday, February 5th. Finally, DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Friday, February 28th. Fourteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Trading Down 1.1 %

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $68.49 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.52. The business’s fifty day simple moving average is $77.21 and its 200 day simple moving average is $80.85.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The business had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the company posted $1.48 EPS. PayPal’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of large investors have recently added to or reduced their stakes in PYPL. Mascagni Wealth Management Inc. bought a new stake in PayPal during the fourth quarter worth $47,000. 111 Capital bought a new stake in shares of PayPal during the fourth quarter worth approximately $2,916,000. Wealth Enhancement Advisory Services LLC grew its position in shares of PayPal by 62.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 119,207 shares of the credit services provider’s stock valued at $10,174,000 after purchasing an additional 45,670 shares during the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in PayPal by 0.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 114,630 shares of the credit services provider’s stock worth $9,784,000 after purchasing an additional 583 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in PayPal during the 4th quarter worth $27,676,000. Institutional investors own 68.32% of the company’s stock.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.