PayPal (NASDAQ:PYPL) Trading Down 0.4% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL) shares dropped 0.4% during mid-day trading on Thursday . The company traded as low as $86.27 and last traded at $86.57. Approximately 5,477,894 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 13,295,025 shares. The stock had previously closed at $86.94.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PYPL shares. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Robert W. Baird upped their price target on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a report on Wednesday, October 30th. Sixteen analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.60.

PayPal Trading Down 0.4 %

The firm has a market capitalization of $86.79 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 1.56 and a beta of 1.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a 50-day moving average price of $81.31 and a 200-day moving average price of $70.17.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. During the same quarter last year, the company earned $0.97 earnings per share. The firm’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.

Hedge Funds Weigh In On PayPal

Several large investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI increased its position in PayPal by 5.4% during the first quarter. Citizens Financial Group Inc. RI now owns 10,485 shares of the credit services provider’s stock worth $702,000 after buying an additional 538 shares during the period. LRI Investments LLC acquired a new position in shares of PayPal in the 1st quarter valued at $34,000. Swedbank AB acquired a new position in shares of PayPal in the 1st quarter valued at $42,297,000. Burney Co. purchased a new stake in PayPal in the 1st quarter valued at $1,912,000. Finally, Redwood Grove Capital LLC boosted its stake in PayPal by 6.0% during the 1st quarter. Redwood Grove Capital LLC now owns 178,940 shares of the credit services provider’s stock worth $11,987,000 after purchasing an additional 10,050 shares during the period. 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.