PayPal (NASDAQ:PYPL) Trading Down 1.1% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 1.1% during mid-day trading on Thursday . The stock traded as low as $76.90 and last traded at $77.53. Approximately 2,420,666 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 11,153,791 shares. The stock had previously closed at $78.36.

Analysts Set New Price Targets

PYPL has been the subject of several recent research reports. Macquarie upped their price target on shares of PayPal from $115.00 to $117.00 and gave the company an “outperform” rating in a research report on Monday, February 10th. The Goldman Sachs Group upped 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. Barclays upped their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Wells Fargo & Company upped their price objective on shares of PayPal from $75.00 to $80.00 and gave the company an “equal weight” rating in a research note on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.52.

PayPal Stock Performance

The company’s fifty day moving average price is $85.18 and its 200 day moving average price is $80.63. The company has a market cap of $74.14 billion, a PE ratio of 18.69, a P/E/G ratio of 1.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. The company had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. On average, equities research analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current year.

Institutional Trading of PayPal

Large investors have recently added to or reduced their stakes in the stock. Mpwm Advisory Solutions LLC purchased a new stake in PayPal during the fourth quarter worth about $25,000. Gordian Capital Singapore Pte Ltd purchased a new stake in PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton increased its holdings in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after buying an additional 125 shares during the last quarter. Hurley Capital LLC purchased a new stake in PayPal during the fourth quarter worth about $27,000. Finally, Sugarloaf Wealth Management LLC increased its holdings in PayPal by 344.3% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after buying an additional 272 shares during the last quarter. Hedge funds and other institutional investors 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.