PayPal (NASDAQ:PYPL) Stock Price Down 0.9%

PayPal Holdings, Inc. (NASDAQ:PYPL) shares fell 0.9% during mid-day trading on Wednesday . The stock traded as low as $68.14 and last traded at $68.20. 1,662,813 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 14,111,779 shares. The stock had previously closed at $68.85.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PYPL shares. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. JPMorgan Chase & Co. increased their target price on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. UBS Group boosted their price target on shares of PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Wells Fargo & Company raised their price objective on shares of PayPal from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 31st. Finally, Daiwa Capital Markets upgraded shares of PayPal from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $68.00 to $72.00 in a research note on Friday, August 9th. Eighteen 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’s stock. Based on data from MarketBeat, PayPal currently has an average rating of “Moderate Buy” and an average target price of $75.56.

PayPal Trading Up 0.3 %

The company has a market capitalization of $70.62 billion, a PE ratio of 17.18, a PEG ratio of 0.98 and a beta of 1.43. The stock has a fifty day moving average of $64.93 and a two-hundred day moving average of $63.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a net margin of 14.30% and a return on equity of 22.82%. The firm had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the firm posted $0.83 earnings per share. The business’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new stake in PayPal during the 4th quarter valued at $749,561,000. Primecap Management Co. CA raised its stake in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after purchasing an additional 1,866,925 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares during the last quarter. Finally, Boston Partners increased its holdings in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after purchasing an additional 764,258 shares during the period. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.