PayPal (NASDAQ:PYPL) Shares Down 2% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price traded down 2% during mid-day trading on Friday . The company traded as low as $75.85 and last traded at $76.10. 3,800,467 shares were traded during trading, a decline of 66% from the average session volume of 11,134,418 shares. The stock had previously closed at $77.63.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Piper Sandler increased their price objective on shares of PayPal from $88.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price objective on shares of PayPal in a research note on Thursday, December 12th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Finally, Barclays raised their target price on shares of PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Thirteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $90.52.

PayPal Stock Down 3.1 %

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $74.44 billion, a price-to-earnings ratio of 18.76, a P/E/G ratio of 1.28 and a beta of 1.44. The stock’s fifty day moving average price is $85.50 and its 200-day moving average price is $80.53.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same period last year, the company earned $1.48 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts predict that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors have recently added to or reduced their stakes in the company. Relyea Zuckerberg Hanson LLC increased its holdings in PayPal by 113.8% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 7,470 shares of the credit services provider’s stock worth $638,000 after buying an additional 3,976 shares during the last quarter. World Investment Advisors LLC acquired a new position in PayPal during the third quarter worth $387,435,000. United Advisor Group LLC acquired a new position in PayPal during the third quarter worth $810,000. FCG Investment Co acquired a new position in PayPal during the third quarter worth $1,079,000. Finally, Equity Investment Corp boosted its position in PayPal by 3.5% during the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock worth $155,927,000 after purchasing an additional 67,497 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.