PayPal (NASDAQ:PYPL) Stock Price Down 0.3% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 0.3% during mid-day trading on Thursday . The company traded as low as $75.80 and last traded at $76.03. 2,969,480 shares were traded during trading, a decline of 74% from the average session volume of 11,308,874 shares. The stock had previously closed at $76.27.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PYPL. Macquarie boosted their price objective on PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday. Stephens boosted their price target on PayPal from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Morgan Stanley lowered their price target on PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Citigroup upped their price objective on PayPal from $97.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Finally, The Goldman Sachs Group increased their price target on PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.52.

PayPal Price Performance

The company has a quick ratio of 1.25, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market cap of $75.30 billion, a PE ratio of 18.99, a P/E/G ratio of 1.29 and a beta of 1.44. The stock has a 50-day simple moving average of $86.91 and a 200 day simple moving average of $80.03.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. Equities analysts expect that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently modified their holdings of PYPL. Norges Bank acquired a new stake in shares of PayPal in the fourth quarter valued at $1,086,508,000. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares in the last quarter. FMR LLC grew its holdings in shares of PayPal by 86.3% in the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after acquiring an additional 7,767,072 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of PayPal by 284.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 7,804,334 shares of the credit services provider’s stock worth $666,100,000 after acquiring an additional 5,772,198 shares during the period. Finally, World Investment Advisors LLC purchased a new stake in shares of PayPal in the third quarter valued at $387,435,000. 68.32% of the stock is owned by institutional investors and hedge funds.

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.