PayPal (NASDAQ:PYPL) Stock Price Down 5.8% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price traded down 5.8% during mid-day trading on Tuesday . The company traded as low as $76.81 and last traded at $78.72. 16,383,875 shares traded hands during mid-day trading, an increase of 21% from the average session volume of 13,546,030 shares. The stock had previously closed at $83.59.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Barclays upped their target price on PayPal from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. William Blair raised PayPal to a “hold” rating in a research note on Tuesday, July 30th. Morgan Stanley upped their target price on PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, UBS Group upped their target price on PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday. Seventeen investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.03.

PayPal Trading Down 2.6 %

The firm has a market capitalization of $81.82 billion, a PE ratio of 19.70, a PEG ratio of 1.51 and a beta of 1.44. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average price of $76.24 and a two-hundred day moving average price of $67.48.

PayPal (NASDAQ:PYPL) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.12. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business had revenue of $7.85 billion during the quarter, compared to analysts’ expectations of $7.88 billion. During the same period in the prior year, the business posted $0.97 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. Analysts expect that PayPal Holdings, Inc. will post 4.44 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently bought and sold shares of PYPL. Primecap Management Co. CA lifted its stake in PayPal by 180.7% during the 2nd quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock worth $287,043,000 after acquiring an additional 3,184,160 shares in the last quarter. Clearbridge Investments LLC lifted its stake in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares in the last quarter. International Assets Investment Management LLC lifted its stake in PayPal by 9,864.9% during the 3rd quarter. International Assets Investment Management LLC now owns 1,119,262 shares of the credit services provider’s stock worth $87,336,000 after acquiring an additional 1,108,030 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in PayPal by 139.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,544,179 shares of the credit services provider’s stock worth $120,492,000 after acquiring an additional 899,476 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in PayPal by 31.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,899,859 shares of the credit services provider’s stock worth $194,262,000 after acquiring an additional 687,940 shares in the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.