PayPal (NASDAQ:PYPL) Trading Down 0.1% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 0.1% during mid-day trading on Wednesday . The company traded as low as $85.05 and last traded at $85.35. Approximately 4,526,183 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 12,839,767 shares. The stock had previously closed at $85.43.

Analyst Ratings Changes

Several research analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. BMO Capital Markets upped their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and issued a $90.00 price target (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research report on Friday, December 13th. Finally, Oppenheimer initiated coverage on shares of PayPal in a research report on Tuesday, October 1st. They set a “market perform” rating for the company. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Stock Down 0.1 %

The company has a market capitalization of $85.57 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 1.66 and a beta of 1.44. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm’s 50 day simple moving average is $85.57 and its 200-day simple moving average is $74.37.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bruce G. Allen Investments LLC boosted its position in shares of PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock worth $141,000 after purchasing an additional 124 shares in the last quarter. First United Bank & Trust boosted its holdings in PayPal by 6.4% during the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after buying an additional 145 shares in the last quarter. Ritholtz Wealth Management grew its position in PayPal by 3.3% during the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock worth $369,000 after buying an additional 152 shares during the period. Laraway Financial Advisors Inc grew its position in PayPal by 3.8% during the third quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock worth $330,000 after buying an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC increased its holdings in PayPal by 50.6% in the second 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. Institutional investors and hedge funds 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.