PayPal (NASDAQ:PYPL) Trading Down 0.2% – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) were down 0.2% during mid-day trading on Thursday . The company traded as low as $84.21 and last traded at $84.57. Approximately 2,072,202 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 13,370,838 shares. The stock had previously closed at $84.74.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PYPL shares. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Jefferies Financial Group reduced their target price on PayPal from $70.00 to $65.00 in a research note on Monday, July 29th. Sanford C. Bernstein downgraded PayPal from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Monness Crespi & Hardt boosted their price target on PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Royal Bank of Canada boosted their price target on PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The business’s 50 day moving average price is $79.78 and its 200-day moving average price is $69.40. The firm has a market cap of $85.64 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.50 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analysts’ expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. During the same quarter in the prior year, the firm posted $0.97 earnings per share. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Hedge Funds Weigh In On PayPal

A number of hedge funds have recently added to or reduced their stakes in PYPL. Mizuho Securities USA LLC boosted its holdings in PayPal by 12,919.4% in the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after purchasing an additional 10,419,351 shares during the period. FMR LLC boosted its holdings in PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock worth $1,307,945,000 after purchasing an additional 7,767,072 shares during the period. World Investment Advisors LLC acquired a new position in shares of PayPal during the third quarter valued at $387,435,000. Primecap Management Co. CA boosted its holdings in shares of PayPal by 180.7% during the second quarter. Primecap Management Co. CA now owns 4,946,460 shares of the credit services provider’s stock valued at $287,043,000 after acquiring an additional 3,184,160 shares during the period. Finally, Clearbridge Investments LLC boosted its holdings in shares of PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock valued at $493,907,000 after acquiring an additional 1,866,925 shares during the period. Institutional investors and hedge funds 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.