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

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 0% during mid-day trading on Thursday . The stock traded as low as $86.79 and last traded at $87.94. Approximately 7,397,532 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 6,732,175 shares. The stock had previously closed at $87.97.

Wall Street Analyst Weigh In

Several analysts have commented on PYPL shares. Oppenheimer initiated coverage on PayPal in a research note on Tuesday, October 1st. They set a “market perform” rating for the company. Phillip Securities reaffirmed an “accumulate” rating and set a $90.00 price target (up from $80.00) on shares of PayPal in a report on Friday, November 1st. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. UBS Group raised their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Monness Crespi & Hardt increased their price target on shares of PayPal from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, PayPal currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.65.

PayPal Stock Performance

The stock’s 50-day moving average is $86.34 and its 200-day moving average is $75.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $88.16 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth 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, topping the consensus estimate of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.97 earnings per share. Analysts anticipate that PayPal Holdings, Inc. will post 4.57 EPS for the current fiscal year.

Institutional Trading of PayPal

A number of institutional investors and hedge funds have recently made changes to their positions in PYPL. World Investment Advisors LLC purchased a new stake in PayPal during the third quarter valued at about $387,435,000. United Advisor Group LLC purchased a new stake in shares of PayPal during the 3rd quarter worth about $810,000. FCG Investment Co acquired a new stake in PayPal during the 3rd quarter worth approximately $1,079,000. Equity Investment Corp raised its holdings in PayPal by 3.5% in the third quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider’s stock valued at $155,927,000 after buying an additional 67,497 shares during the period. Finally, Weil Company Inc. lifted its position in PayPal by 68.9% during the third quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider’s stock valued at $3,253,000 after buying an additional 17,003 shares in the last quarter. 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.