PayPal (NASDAQ:PYPL) Stock Price Down 2.7% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 2.7% during trading on Friday . The company traded as low as $76.46 and last traded at $77.12. Approximately 5,513,075 shares were traded during trading, a decline of 59% from the average daily volume of 13,602,362 shares. The stock had previously closed at $79.30.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Robert W. Baird increased their price objective on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday. Argus raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Oppenheimer started coverage on shares of PayPal in a report on Tuesday, October 1st. They issued a “market perform” rating on the stock. Canaccord Genuity Group upped their target price on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Daiwa America upgraded shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, August 9th. Seventeen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $82.29.

PayPal Stock Performance

The company has a market capitalization of $77.24 billion, a P/E ratio of 18.42, a P/E/G ratio of 1.40 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The stock’s 50 day simple moving average is $76.39 and its two-hundred day simple moving average is $67.56.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. During the same period in the previous year, the firm posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts expect that PayPal Holdings, Inc. will post 4.54 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PYPL. 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 worth $26,000 after acquiring an additional 172 shares in the last quarter. Financial Management Professionals Inc. increased its position in PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the period. CarsonAllaria Wealth Management Ltd. grew its stake in PayPal by 65.8% during the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after buying an additional 185 shares in the last quarter. Family Firm Inc. acquired a new stake in PayPal during the second quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC grew its stake in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.