PayPal (NASDAQ:PYPL) Trading Down 3.2%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price was down 3.2% during mid-day trading on Friday . The stock traded as low as $69.58 and last traded at $69.72. Approximately 3,009,262 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 14,153,520 shares. The stock had previously closed at $72.03.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PYPL. TD Cowen increased their target price on PayPal from $68.00 to $70.00 and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Susquehanna increased their target price on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a research report on Wednesday, July 31st. Robert W. Baird increased their target price on PayPal from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Mizuho reiterated an “outperform” rating and set a $90.00 target price on shares of PayPal in a research report on Tuesday, August 20th. Finally, UBS Group increased their target price on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Eighteen research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Down 3.8 %

The firm has a 50 day simple moving average of $64.29 and a two-hundred day simple moving average of $63.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market cap of $70.85 billion, a P/E ratio of 17.45, a P/E/G ratio of 1.03 and a beta of 1.43.

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

Hedge Funds Weigh In On PayPal

Hedge funds have recently modified their holdings of the stock. SYSTM Wealth Solutions LLC grew its holdings in shares of PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Pittenger & Anderson Inc. grew its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after buying an additional 172 shares in the last quarter. Verity Asset Management Inc. grew its holdings in shares of PayPal by 1.9% during the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock valued at $650,000 after buying an additional 181 shares in the last quarter. Indiana Trust & Investment Management CO grew its holdings in shares of PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock valued at $79,000 after buying an additional 184 shares in the last quarter. Finally, Checchi Capital Advisers LLC grew its holdings in shares of PayPal by 3.1% during the second quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after buying an additional 184 shares in the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.