PayPal (NASDAQ:PYPL) Stock Price Down 2.7% – What’s Next?

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

Analyst Ratings Changes

Several research firms recently commented on PYPL. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, September 27th. William Blair upgraded shares of PayPal to a “hold” rating in a research note on Tuesday, July 30th. Phillip Securities reiterated an “accumulate” rating and set a $90.00 target price (up previously from $80.00) on shares of PayPal in a research report on Friday. Needham & Company LLC restated a “hold” rating on shares of PayPal in a research report on Wednesday. Finally, BMO Capital Markets raised their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a report on Wednesday. Fifteen equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $82.83.

PayPal Trading Down 2.6 %

The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.24. The business’s 50-day moving average price is $76.50 and its two-hundred day moving average price is $67.69. The company has a market capitalization of $77.45 billion, a P/E ratio of 18.44, a PEG ratio of 1.41 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced 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. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts forecast that PayPal Holdings, Inc. will post 4.56 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FCG Investment Co bought a new stake in PayPal in the third quarter valued at approximately $1,079,000. Brown Financial Advisors bought a new stake in shares of PayPal in the second quarter valued at about $1,454,000. Cape Cod Five Cents Savings Bank bought a new stake in shares of PayPal in the second quarter valued at approximately $3,014,000. Distillate Capital Partners LLC raised its stake in PayPal by 156,934.7% in the second quarter. Distillate Capital Partners LLC now owns 343,906 shares of the credit services provider’s stock valued at $19,957,000 after purchasing an additional 343,687 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in PayPal by 44.6% in the first quarter. 1832 Asset Management L.P. now owns 1,235 shares of the credit services provider’s stock valued at $83,000 after acquiring an additional 381 shares during the last quarter. 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.