PayPal (NASDAQ:PYPL) Stock Price Down 1.2%

PayPal Holdings, Inc. (NASDAQ:PYPLGet Free Report)’s stock price traded down 1.2% on Wednesday . The stock traded as low as $63.67 and last traded at $64.02. 4,184,584 shares were traded during mid-day trading, a decline of 72% from the average session volume of 15,054,303 shares. The stock had previously closed at $64.77.

Analyst Ratings Changes

A number of research firms have commented on PYPL. Robert W. Baird lifted their price target on shares of PayPal from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Evercore ISI increased their price target on PayPal from $60.00 to $65.00 and gave the stock an “in-line” rating in a report on Wednesday, May 1st. Citigroup boosted their price objective on PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a report on Monday. Monness Crespi & Hardt increased their target price on PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, April 29th. Finally, BMO Capital Markets boosted their price target on shares of PayPal from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Wednesday, May 1st. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $73.82.

View Our Latest Report on PYPL

PayPal Stock Performance

The company’s 50-day moving average price is $64.31 and its 200 day moving average price is $62.34. The stock has a market capitalization of $63.42 billion, a PE ratio of 15.33, a PEG ratio of 1.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28.

PayPal (NASDAQ:PYPLGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $7.52 billion. PayPal’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 EPS. On average, equities research analysts expect that PayPal Holdings, Inc. will post 4.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Deborah M. Messemer sold 4,422 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the sale, the director now directly owns 13,976 shares of the company’s stock, valued at $861,620.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of PayPal in the fourth quarter worth about $749,561,000. Nordea Investment Management AB lifted its holdings in PayPal by 420.6% during the third quarter. Nordea Investment Management AB now owns 3,238,980 shares of the credit services provider’s stock valued at $190,371,000 after purchasing an additional 2,616,774 shares in the last quarter. FMR LLC lifted its holdings in PayPal by 29.5% during the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock valued at $404,367,000 after purchasing an additional 1,575,930 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after purchasing an additional 958,130 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of PayPal by 15.8% during the 1st quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the period. 68.32% of the stock is owned by institutional investors.

About PayPal

(Get Free Report)

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.

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