PayPal (NASDAQ:PYPL) Trading Down 0.3% – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 0.3% during trading on Monday . The company traded as low as $85.53 and last traded at $85.54. Approximately 2,186,483 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 13,420,233 shares. The stock had previously closed at $85.83.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PYPL. Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Canaccord Genuity Group boosted their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Performance

The company has a 50-day moving average price of $79.47 and a two-hundred day moving average price of $69.29. The stock has a market capitalization of $84.30 billion, a P/E ratio of 20.07, a PEG ratio of 1.53 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 announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating 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 firm 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 business posted $0.97 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts expect that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. United Advisor Group LLC purchased a new position in shares of PayPal during the third quarter worth about $810,000. FCG Investment Co purchased a new position in shares of PayPal during the third quarter worth about $1,079,000. Equity Investment Corp grew its holdings in shares of PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 shares in the last quarter. Weil Company Inc. grew its holdings in shares of PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock worth $3,253,000 after purchasing an additional 17,003 shares in the last quarter. Finally, Brown Financial Advisors purchased a new position in shares of PayPal during the second quarter worth about $1,454,000. Hedge funds and other 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.