PayPal (NASDAQ:PYPL) Trading Down 0.1%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price dropped 0.1% during trading on Friday . The stock traded as low as $67.37 and last traded at $67.86. Approximately 2,529,959 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 14,441,893 shares. The stock had previously closed at $67.94.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PYPL shares. Daiwa Capital Markets upgraded PayPal from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $68.00 to $72.00 in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Tuesday, April 30th. Susquehanna increased their price objective on shares of PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research note on Wednesday, July 31st. Robert W. Baird increased their price target on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $68.00 to $90.00 in a research report on Thursday, May 30th. Seventeen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $75.25.

PayPal Stock Performance

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $69.60 billion, a PE ratio of 17.09, a PEG ratio of 0.92 and a beta of 1.42. The firm’s 50-day simple moving average is $61.21 and its 200-day simple moving average is $62.34.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The firm had revenue of $7.89 billion during the quarter, compared to analyst estimates of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. PayPal’s quarterly revenue was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 earnings per share. On average, research analysts predict that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Insider Activity

In related news, Director Deborah M. Messemer sold 4,422 shares of PayPal stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at $861,620.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of large investors have recently bought and sold shares of the business. SYSTM Wealth Solutions LLC increased its holdings in shares of PayPal by 50.6% in the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after acquiring an additional 167 shares during the period. Pittenger & Anderson Inc. boosted its stake in PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. Verity Asset Management Inc. increased its stake in PayPal by 1.9% during the 1st quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after purchasing an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO raised its stake in PayPal by 18.6% in the 1st quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after acquiring an additional 184 shares during the last quarter. Finally, Checchi Capital Advisers LLC grew its stake in PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the last quarter. Institutional investors own 68.32% of the company’s stock.

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.