PayPal (NASDAQ:PYPL) Stock Price Down 4.5% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 4.5% during mid-day trading on Friday . The stock traded as low as $83.91 and last traded at $83.95. 3,070,772 shares were traded during mid-day trading, a decline of 49% from the average session volume of 6,024,261 shares. The stock had previously closed at $87.94.

Analysts Set New Price Targets

PYPL has been the topic of several analyst reports. Macquarie boosted their target price on PayPal from $95.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, December 17th. Monness Crespi & Hardt increased their target price on shares of PayPal from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Robert W. Baird lifted their price target on shares of PayPal from $80.00 to $91.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on shares of PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.65.

PayPal Trading Down 5.8 %

The stock has a market capitalization of $83.07 billion, a PE ratio of 19.78, a P/E/G ratio of 1.66 and a beta of 1.44. 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 company has a 50 day moving average of $86.51 and a two-hundred day moving average of $75.52.

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

Institutional Investors Weigh In On PayPal

Several hedge funds have recently added to or reduced their stakes in PYPL. ORG Wealth Partners LLC lifted its holdings in shares of PayPal by 51.0% in the 4th quarter. ORG Wealth Partners LLC now owns 3,427 shares of the credit services provider’s stock valued at $292,000 after buying an additional 1,157 shares during the period. Hilltop National Bank raised its position in PayPal by 129.1% during the fourth quarter. Hilltop National Bank now owns 1,535 shares of the credit services provider’s stock valued at $131,000 after acquiring an additional 865 shares in the last quarter. A. D. Beadell Investment Counsel Inc. lifted its holdings in PayPal by 4.7% in the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 5,259 shares of the credit services provider’s stock valued at $448,000 after acquiring an additional 235 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in PayPal by 2.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 75,060 shares of the credit services provider’s stock worth $5,857,000 after purchasing an additional 1,523 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC grew its stake in shares of PayPal by 6.5% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 4,936 shares of the credit services provider’s stock worth $421,000 after purchasing an additional 303 shares during the period. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.