PayPal (NASDAQ:PYPL) Shares Down 1.4% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were down 1.4% on Wednesday . The stock traded as low as $78.01 and last traded at $79.16. Approximately 4,952,216 shares traded hands during trading, a decline of 64% from the average daily volume of 13,594,738 shares. The stock had previously closed at $80.28.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent research reports. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Wednesday. Robert W. Baird upped their price objective on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday. TD Cowen upped their price target on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Macquarie upped their price target on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Seventeen analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $81.07.

PayPal Price Performance

The business’s 50-day simple moving average is $76.10 and its two-hundred day simple moving average is $67.41. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The stock has a market cap of $82.77 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 1.51 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.12. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.97 earnings per share. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.44 EPS for the current year.

Institutional Investors Weigh In On PayPal

Large investors have recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. grew its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares during the period. Family Firm Inc. bought a new position in shares of PayPal during the 2nd quarter valued at approximately $29,000. SYSTM Wealth Solutions LLC raised its position in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 465 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. lifted its holdings in shares of PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

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.