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

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 0.3% during trading on Wednesday . The stock traded as low as $90.30 and last traded at $90.62. Approximately 1,476,533 shares changed hands during trading, a decline of 89% from the average daily volume of 12,965,283 shares. The stock had previously closed at $90.86.

Analyst Ratings Changes

Several research analysts recently weighed in on PYPL shares. Macquarie increased their price objective on PayPal from $95.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday. Canaccord Genuity Group boosted their price objective on shares of PayPal from $80.00 to $96.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Wolfe Research raised PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a research report on Friday, December 13th. Morgan Stanley upped their price target on PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Stock Performance

The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $89.45 billion, a PE ratio of 21.29, a P/E/G ratio of 1.66 and a beta of 1.44. The firm’s 50-day moving average price is $84.29 and its two-hundred day moving average price is $72.78.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The company 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%. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 earnings per share. As a group, research analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Trading of PayPal

Hedge funds have recently made changes to their positions in the stock. Gordian Capital Singapore Pte Ltd purchased a new position in shares of PayPal during the 3rd quarter valued at $26,000. Family Firm Inc. acquired a new stake in shares of PayPal during the 2nd quarter valued at about $29,000. SYSTM Wealth Solutions LLC grew its stake in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its holdings in PayPal by 930.0% in 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 during the last quarter. Finally, Planning Capital Management Corp raised its position in PayPal by 186.1% during the third 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 in the last quarter. 68.32% of the stock is owned by hedge funds and other 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.