PayPal (NASDAQ:PYPL) Shares Down 0.8% – Here’s What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 0.8% on Monday . The company traded as low as $85.97 and last traded at $86.42. 1,302,881 shares traded hands during trading, a decline of 90% from the average session volume of 12,985,535 shares. The stock had previously closed at $87.13.

Analyst Ratings Changes

PYPL has been the topic of several research analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of PayPal from $92.00 to $104.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. The Goldman Sachs Group boosted their price objective on PayPal from $79.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Robert W. Baird increased their target price on shares of PayPal from $80.00 to $91.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company boosted their price target on shares of PayPal from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Fifteen investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $88.42.

PayPal Stock Performance

The stock has a 50 day moving average of $84.95 and a two-hundred day moving average of $73.55. The stock has a market capitalization of $88.47 billion, a PE ratio of 21.06, 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 current ratio of 1.25 and a quick ratio of 1.25.

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

Institutional Investors Weigh In On PayPal

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider’s stock valued at $1,307,945,000 after buying an additional 7,767,072 shares in the last quarter. Mizuho Securities USA LLC grew its holdings in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider’s stock worth $819,315,000 after buying an additional 10,419,351 shares in the last quarter. Legal & General Group Plc raised its position in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider’s stock valued at $501,184,000 after buying an additional 276,287 shares during the last quarter. Clearbridge Investments LLC boosted its position in PayPal by 28.1% during the second quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider’s stock worth $493,907,000 after acquiring an additional 1,866,925 shares during the last quarter. Finally, Primecap Management Co. CA grew its stake in PayPal by 21.6% in the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider’s stock worth $469,414,000 after acquiring an additional 1,069,356 shares during the period. 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.