PayPal (NASDAQ:PYPL) Trading Down 2% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price fell 2% on Friday . The stock traded as low as $75.85 and last traded at $76.10. 3,800,467 shares were traded during mid-day trading, a decline of 66% from the average session volume of 11,134,418 shares. The stock had previously closed at $77.63.

Analysts Set New Price Targets

Several analysts have commented on PYPL shares. Bank of America upgraded PayPal from a “neutral” rating to a “buy” rating and increased their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Keefe, Bruyette & Woods increased their target price on PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Robert W. Baird cut their target price on PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 5th. Barclays increased their target price on PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Finally, Phillip Securities reiterated an “accumulate” rating and set a $90.00 target price (up from $80.00) on shares of PayPal in a research note on Friday, November 1st. Fourteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $90.52.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market cap of $74.14 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.44. The firm’s fifty day moving average is $85.18 and its two-hundred day moving average is $80.75.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.48 earnings per share. As a group, analysts anticipate that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Several institutional investors and hedge funds have recently modified their holdings of the stock. Relyea Zuckerberg Hanson LLC increased its holdings in PayPal by 113.8% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock valued at $638,000 after acquiring an additional 3,976 shares during the last quarter. World Investment Advisors LLC bought a new stake in PayPal in the 3rd quarter valued at $387,435,000. United Advisor Group LLC bought a new stake in PayPal in the 3rd quarter valued at $810,000. FCG Investment Co bought a new stake in PayPal in the 3rd quarter valued at $1,079,000. Finally, Equity Investment Corp increased its holdings in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after acquiring an additional 67,497 shares during the last quarter. Institutional investors 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.