PayPal (NASDAQ:PYPL) Shares Down 0.4%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 0.4% during trading on Friday . The stock traded as low as $71.16 and last traded at $71.22. Approximately 1,936,367 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 14,393,512 shares. The stock had previously closed at $71.52.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PYPL shares. BMO Capital Markets increased their price target on PayPal from $65.00 to $72.00 and gave the company a “market perform” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. lifted their price target on shares of PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 20th. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $69.00 price target on shares of PayPal in a report on Monday, June 24th. TD Cowen raised their price objective on shares of PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $84.00 target price on shares of PayPal in a research note on Wednesday, July 31st. Seventeen equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given 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 an average target price of $75.56.

PayPal Price Performance

The business’s 50-day simple moving average is $62.00 and its 200 day simple moving average is $62.67. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $73.30 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.97 and a beta of 1.42.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The firm had revenue of $7.89 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the previous year, the company earned $0.83 earnings per share. PayPal’s revenue was up 8.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PYPL. Pittenger & Anderson Inc. boosted its stake in shares of PayPal by 77.5% during the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after acquiring an additional 172 shares in the last quarter. American National Bank acquired a new position in shares of PayPal in the 1st quarter valued at $27,000. Private Wealth Management Group LLC purchased a new position in PayPal in the 4th quarter worth about $29,000. Family Firm Inc. acquired a new stake in PayPal during the 2nd quarter worth about $29,000. Finally, SYSTM Wealth Solutions LLC boosted its holdings in shares of PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the period. 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.