PayPal (NASDAQ:PYPL) Shares Down 0.8% After Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 0.8% on Thursday after Robert W. Baird lowered their price target on the stock from $100.00 to $95.00. Robert W. Baird currently has an outperform rating on the stock. PayPal traded as low as $78.21 and last traded at $78.58. Approximately 5,152,847 shares changed hands during trading, a decline of 53% from the average session volume of 10,932,644 shares. The stock had previously closed at $79.20.

Other equities research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley reduced their price target on PayPal from $90.00 to $79.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Wells Fargo & Company upped their target price on PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein lowered PayPal from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Fourteen 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.com, PayPal currently has a consensus rating of “Moderate Buy” and an average price target of $89.29.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PYPL. Czech National Bank boosted its stake in shares of PayPal by 4.5% during the 3rd quarter. Czech National Bank now owns 208,260 shares of the credit services provider’s stock valued at $16,251,000 after buying an additional 8,925 shares during the last quarter. GAMMA Investing LLC raised its holdings in PayPal by 37.2% in the third quarter. GAMMA Investing LLC now owns 9,652 shares of the credit services provider’s stock valued at $753,000 after acquiring an additional 2,616 shares in the last quarter. Diversified Trust Co bought a new position in PayPal during the 3rd quarter valued at $1,367,000. Ignite Planners LLC grew its holdings in PayPal by 15.3% during the 3rd quarter. Ignite Planners LLC now owns 6,465 shares of the credit services provider’s stock worth $504,000 after acquiring an additional 860 shares in the last quarter. Finally, Alpha Cubed Investments LLC bought a new stake in shares of PayPal in the 3rd quarter worth about $262,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Price Performance

The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average price is $87.87 and its two-hundred day moving average price is $79.39. The company has a market cap of $78.68 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.49 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the company earned $1.48 earnings per share. PayPal’s quarterly revenue was up 4.2% on a year-over-year basis. As a group, sell-side analysts expect that PayPal Holdings, Inc. will post 4.58 earnings per share for the current year.

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.