PayPal (NASDAQ:PYPL) Stock Price Down 0.9%

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 0.9% during mid-day trading on Friday . The company traded as low as $72.23 and last traded at $72.50. 2,448,742 shares traded hands during trading, a decline of 83% from the average session volume of 14,260,690 shares. The stock had previously closed at $73.16.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. increased their target price on PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $84.00 price objective on shares of PayPal in a research note on Wednesday, July 31st. Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, August 9th. Daiwa Capital Markets raised PayPal from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $68.00 to $72.00 in a report on Friday, August 9th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and set a $69.00 target price on shares of PayPal in a report on Monday, June 24th. Eighteen equities 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Price Performance

The company has a market cap of $75.50 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 0.97 and a beta of 1.42. The stock has a fifty day moving average price of $62.71 and a 200-day moving average price of $62.92. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the company posted $0.83 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Institutional investors have recently modified their holdings of the stock. Pittenger & Anderson Inc. raised its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. American National Bank acquired a new position in PayPal during the first quarter worth $27,000. Register Financial Advisors LLC acquired a new position in PayPal during the first quarter worth $30,000. CarsonAllaria Wealth Management Ltd. raised its holdings in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of PayPal in the fourth quarter worth about $29,000. 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.