PayPal (NASDAQ:PYPL) Stock Price Down 0.6% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 0.6% during trading on Tuesday . The stock traded as low as $85.85 and last traded at $86.42. 3,648,299 shares changed hands during trading, a decline of 73% from the average session volume of 13,510,818 shares. The stock had previously closed at $86.94.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Argus upgraded shares of PayPal from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a report on Sunday, November 3rd. Canaccord Genuity Group raised their target price on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, William Blair raised shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Fifteen equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.45.

PayPal Stock Performance

The company has a market cap of $86.01 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.54 and a beta of 1.43. 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 stock’s fifty day simple moving average is $78.25 and its 200 day simple moving average is $68.76.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, analysts anticipate that PayPal Holdings, Inc. will post 4.56 earnings per share for the current year.

Institutional Trading of PayPal

A number of hedge funds have recently bought and sold shares of PYPL. FMR LLC increased its holdings in shares of PayPal by 86.3% during the 3rd quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the last quarter. Mizuho Securities USA LLC increased its holdings in shares of PayPal by 12,919.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of PayPal by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock worth $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after buying an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA increased its holdings in shares of PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after buying an additional 1,069,356 shares during the last quarter. Institutional investors and hedge funds 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.