PayPal (NASDAQ:PYPL) Shares Down 2.7% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price fell 2.7% during trading on Friday . The stock traded as low as $76.46 and last traded at $77.12. 5,513,075 shares were traded during mid-day trading, a decline of 59% from the average session volume of 13,602,362 shares. The stock had previously closed at $79.30.

Wall Street Analysts Forecast Growth

PYPL has been the subject of several research analyst reports. Robert W. Baird increased their price objective on PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday. Canaccord Genuity Group increased their price target on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on shares of PayPal from $79.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday. Macquarie upped their price objective on shares of PayPal from $90.00 to $95.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, UBS Group lifted their target price on shares of PayPal from $72.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday. Fifteen analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.83.

PayPal Trading Down 2.6 %

The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $77.45 billion, a price-to-earnings ratio of 18.44, a P/E/G ratio of 1.41 and a beta of 1.43. The company has a 50-day moving average price of $76.50 and a 200-day moving average price of $67.69.

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

Institutional Trading of PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pittenger & Anderson Inc. grew its position in PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares in the last quarter. Family Firm Inc. acquired a new position in shares of PayPal in the second quarter valued at $29,000. SYSTM Wealth Solutions LLC lifted its position in 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 purchasing an additional 167 shares during the period. Tortoise Investment Management LLC boosted its stake in PayPal by 930.0% during the second quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after buying an additional 465 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings in PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after buying an additional 185 shares during the period. 68.32% of the stock is currently 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.