PayPal (NASDAQ:PYPL) Shares Down 1.2% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 1.2% during trading on Thursday . The company traded as low as $76.07 and last traded at $76.52. Approximately 1,651,270 shares changed hands during trading, a decline of 88% from the average daily volume of 13,951,704 shares. The stock had previously closed at $77.44.

Analysts Set New Price Targets

PYPL has been the subject of several recent research reports. Macquarie raised their price target on PayPal from $85.00 to $90.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Oppenheimer began coverage on shares of PayPal in a report on Tuesday. They issued a “market perform” rating on the stock. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of PayPal in a research note on Wednesday, July 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $84.00 price objective on shares of PayPal in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group reduced their price objective on shares of PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Seventeen analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $76.41.

PayPal Stock Up 2.7 %

The company has a debt-to-equity ratio of 0.47, a current ratio of 1.24 and a quick ratio of 1.24. The firm has a market cap of $81.13 billion, a P/E ratio of 19.99, a PEG ratio of 1.11 and a beta of 1.43. The firm’s 50-day moving average price is $70.69 and its 200 day moving average price is $65.59.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the firm earned $0.83 EPS. The business’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors have recently modified their holdings of the company. J. W. Coons Advisors LLC raised its stake in shares of PayPal by 8.0% during the fourth quarter. J. W. Coons Advisors LLC now owns 5,423 shares of the credit services provider’s stock valued at $333,000 after purchasing an additional 400 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of PayPal by 828.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 158,079 shares of the credit services provider’s stock worth $9,708,000 after buying an additional 141,052 shares in the last quarter. Exencial Wealth Advisors LLC boosted its holdings in shares of PayPal by 69.2% in the fourth quarter. Exencial Wealth Advisors LLC now owns 9,663 shares of the credit services provider’s stock valued at $593,000 after acquiring an additional 3,951 shares in the last quarter. Stephens Inc. AR increased its stake in shares of PayPal by 11.0% during the fourth quarter. Stephens Inc. AR now owns 70,128 shares of the credit services provider’s stock valued at $4,307,000 after acquiring an additional 6,965 shares during the period. Finally, Morningstar Investment Services LLC acquired a new stake in PayPal in the fourth quarter worth approximately $261,000. 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.