PayPal (NASDAQ:PYPL) Trading Down 1.8% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 1.8% during mid-day trading on Monday . The company traded as low as $59.74 and last traded at $59.92. 1,636,718 shares were traded during mid-day trading, a decline of 86% from the average session volume of 11,988,978 shares. The stock had previously closed at $61.00.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PYPL shares. Keefe, Bruyette & Woods cut their price target on PayPal from $104.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Friday, February 28th. Bank of America decreased their price objective on shares of PayPal from $103.00 to $93.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Citigroup reissued an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of PayPal in a report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.84.

PayPal Stock Down 2.1 %

The firm has a market cap of $59.07 billion, a PE ratio of 14.89, a P/E/G ratio of 1.27 and a beta of 1.60. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $68.22 and its 200-day moving average is $79.19.

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

Insider Activity at PayPal

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the company’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently bought and sold shares of the business. Relyea Zuckerberg Hanson LLC raised its stake in shares of 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 period. Nikko Asset Management Americas Inc. lifted its stake in shares of PayPal by 2.7% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 697,077 shares of the credit services provider’s stock worth $59,489,000 after purchasing an additional 18,172 shares in the last quarter. ExodusPoint Capital Management LP boosted its position in shares of PayPal by 223.1% in the fourth quarter. ExodusPoint Capital Management LP now owns 265,048 shares of the credit services provider’s stock worth $22,622,000 after buying an additional 183,011 shares during the period. StoneX Group Inc. grew its stake in shares of PayPal by 70.4% in the fourth quarter. StoneX Group Inc. now owns 27,249 shares of the credit services provider’s stock valued at $2,326,000 after buying an additional 11,260 shares in the last quarter. Finally, Fortem Financial Group LLC raised its holdings in shares of PayPal by 28.0% during the 4th quarter. Fortem Financial Group LLC now owns 33,302 shares of the credit services provider’s stock valued at $2,842,000 after buying an additional 7,291 shares during the period. 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.