PayPal (NASDAQ:PYPL) Shares Down 0% – Here’s What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 0% during trading on Thursday . The company traded as low as $87.26 and last traded at $88.24. 882,702 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 12,916,177 shares. The stock had previously closed at $88.25.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research raised shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a report on Friday, December 13th. Phillip Securities reaffirmed an “accumulate” rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Stephens raised their price objective on PayPal from $75.00 to $85.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. BMO Capital Markets upped their price objective on shares of PayPal from $73.00 to $82.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their target price on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.

PayPal Stock Up 0.2 %

The stock’s fifty day moving average is $85.10 and its two-hundred day moving average is $73.65. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $88.64 billion, a PE ratio of 21.10, a P/E/G ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.97 EPS. As a group, analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Investors Weigh In On PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. FMR LLC boosted its stake in PayPal by 86.3% in the 3rd 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. Mizuho Securities USA LLC increased its stake in PayPal by 12,919.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Legal & General Group Plc lifted its position in PayPal by 3.3% during the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in shares of 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 during the last quarter. Finally, Primecap Management Co. CA raised its holdings in shares of PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock valued at $469,414,000 after buying an additional 1,069,356 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors.

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.