PayPal (NASDAQ:PYPL) Stock Price Down 0.3% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 0.3% on Monday . The stock traded as low as $89.52 and last traded at $90.74. Approximately 1,936,860 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 13,007,605 shares. The stock had previously closed at $91.02.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PYPL shares. Keefe, Bruyette & Woods boosted their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Monness Crespi & Hardt upped their price objective on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Canaccord Genuity Group raised their target price on PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BMO Capital Markets upped their price target on PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 30th. Finally, Stephens raised their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Fifteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Stock Performance

The company has a 50 day simple moving average of $84.29 and a 200-day simple moving average of $72.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $91.09 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 earnings per share. On average, equities analysts expect that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Several hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal in the third quarter worth about $26,000. Planning Capital Management Corp boosted its holdings in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock valued at $32,000 after acquiring an additional 268 shares during the period. Financial Management Professionals Inc. grew its position in PayPal by 125.3% during the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider’s stock worth $34,000 after acquiring an additional 243 shares during the last quarter. Legacy Investment Solutions LLC purchased a new position in PayPal in the 3rd quarter worth approximately $36,000. Finally, Family Firm Inc. bought a new stake in PayPal in the second quarter valued at approximately $29,000. 68.32% of the stock is owned by institutional investors.

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.