PayPal (NASDAQ:PYPL) Stock Price Down 1.7% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 1.7% during trading on Wednesday . The stock traded as low as $72.87 and last traded at $72.82. 3,613,061 shares changed hands during trading, a decline of 69% from the average session volume of 11,541,108 shares. The stock had previously closed at $74.07.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PYPL. Robert W. Baird decreased their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating on the stock in a report on Wednesday, February 5th. StockNews.com raised PayPal from a “hold” rating to a “buy” rating in a research note on Tuesday, December 24th. Susquehanna lifted their price objective on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Morgan Stanley lifted their target price on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Finally, Piper Sandler lifted their target price on shares of PayPal from $88.00 to $93.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Fourteen research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $90.55.

PayPal Stock Down 1.7 %

The firm has a market cap of $72.02 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.27 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50-day moving average price of $84.52 and a 200-day moving average price of $81.02.

PayPal (NASDAQ:PYPL) last issued its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company had revenue of $8.37 billion for the quarter, compared to the consensus estimate of $8.27 billion. During the same quarter last year, the company earned $1.48 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. On average, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Hedge Funds Weigh In On PayPal

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in PayPal by 11.4% in the 3rd quarter. Allworth Financial LP now owns 5,727 shares of the credit services provider’s stock worth $447,000 after purchasing an additional 588 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in PayPal by 40.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock valued at $5,738,000 after acquiring an additional 21,002 shares during the last quarter. J.W. Cole Advisors Inc. increased its position in shares of PayPal by 62.8% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,348 shares of the credit services provider’s stock worth $807,000 after purchasing an additional 3,991 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its position in shares of PayPal by 18.0% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 4,633 shares of the credit services provider’s stock worth $362,000 after purchasing an additional 706 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in PayPal by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 329,607 shares of the credit services provider’s stock worth $25,719,000 after acquiring an additional 2,591 shares in the last quarter. Hedge funds and other institutional investors 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.