PayPal (NASDAQ:PYPL) Stock Price Down 1% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price fell 1% on Tuesday . The stock traded as low as $87.97 and last traded at $88.60. 1,472,041 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 5,361,537 shares. The stock had previously closed at $89.53.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Susquehanna raised their price target on PayPal from $94.00 to $101.00 and gave the company a “positive” rating in a report on Monday. Robert W. Baird lifted their target price on PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of PayPal from $76.00 to $90.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company boosted their target price on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.65.

PayPal Price Performance

The firm has a market capitalization of $88.63 billion, a P/E ratio of 21.10, a P/E/G ratio of 1.66 and a beta of 1.44. The stock’s 50 day simple moving average is $85.99 and its 200 day simple moving average is $75.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. During the same period last year, the business posted $0.97 EPS. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Large investors have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal in the third quarter valued at about $26,000. SYSTM Wealth Solutions LLC raised its stake in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Planning Capital Management Corp lifted its position in PayPal by 186.1% during the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the last quarter. Financial Management Professionals Inc. boosted its stake in PayPal by 125.3% in the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock valued at $34,000 after acquiring an additional 243 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new position in PayPal in the third quarter worth $36,000. 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.