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

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 0.4% during mid-day trading on Wednesday . The company traded as low as $86.31 and last traded at $86.56. Approximately 1,356,271 shares were traded during trading, a decline of 90% from the average daily volume of 13,275,581 shares. The stock had previously closed at $86.94.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PYPL. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of PayPal from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of PayPal from $90.00 to $100.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Stock Down 0.4 %

The company has a fifty day moving average price of $81.49 and a 200-day moving average price of $70.29. The stock has a market capitalization of $86.79 billion, a P/E ratio of 20.66, a PEG ratio of 1.54 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data 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 return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the firm earned $0.97 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Trading of PayPal

A number of large investors have recently made changes to their positions in the business. United Advisor Group LLC purchased a new position in PayPal in the third quarter worth about $810,000. FCG Investment Co purchased a new position in shares of PayPal in the 3rd quarter worth approximately $1,079,000. Equity Investment Corp increased its position in shares of PayPal by 3.5% during the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after purchasing an additional 67,497 shares during the last quarter. Weil Company Inc. raised its holdings in PayPal by 68.9% during the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares during the period. Finally, Brown Financial Advisors bought a new stake in PayPal in the second quarter worth $1,454,000. 68.32% of the stock is currently owned by institutional investors.

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.