PayPal (NASDAQ:PYPL) Stock Price Down 1.7%

PayPal Holdings, Inc. (NASDAQ:PYPL) shares dropped 1.7% on Monday . The stock traded as low as $57.07 and last traded at $57.07. Approximately 3,338,159 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 14,942,623 shares. The stock had previously closed at $58.03.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research reports. New Street Research began coverage on shares of PayPal in a research report on Friday, May 31st. They issued a “buy” rating and a $80.00 price target for the company. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Tuesday, June 18th. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $78.00 target price on shares of PayPal in a research report on Thursday, June 13th. Wells Fargo & Company increased their target price on shares of PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of PayPal in a research note on Tuesday, April 30th. Twenty analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, PayPal presently has an average rating of “Hold” and an average target price of $73.82.

PayPal Stock Up 2.0 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50-day moving average is $63.07 and its 200 day moving average is $62.40. The firm has a market capitalization of $61.69 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 0.95 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. During the same period in the prior year, the business earned $0.86 earnings per share. PayPal’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Deborah M. Messemer sold 4,422 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $61.65, for a total transaction of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at approximately $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of PYPL. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in PayPal in the fourth quarter worth $25,000. American National Bank acquired a new position in PayPal in the first quarter worth $27,000. Register Financial Advisors LLC acquired a new position in PayPal in the first quarter worth $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its holdings in PayPal by 65.8% in the first quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock worth $31,000 after purchasing an additional 185 shares during the period. 68.32% of the stock is owned by institutional investors and hedge funds.

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.