PayPal (NASDAQ:PYPL) Shares Down 0.4% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) shares traded down 0.4% during mid-day trading on Thursday . The company traded as low as $68.70 and last traded at $69.71. 1,938,087 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 10,831,880 shares. The stock had previously closed at $69.97.

Analysts Set New Price Targets

PYPL has been the topic of a number of research analyst reports. DZ Bank upgraded PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a report on Friday, February 28th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a research note on Wednesday, February 5th. Morgan Stanley increased their price target on shares of PayPal from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 26th. Barclays boosted their price objective on shares of PayPal from $92.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, Susquehanna increased their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Sixteen equities 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 has a consensus rating of “Moderate Buy” and a consensus target price of $90.03.

PayPal Stock Performance

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 firm’s fifty day moving average price is $76.28 and its 200-day moving average price is $80.73. The company has a market cap of $64.45 billion, a P/E ratio of 16.25, a P/E/G ratio of 1.27 and a beta of 1.52.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter in the prior year, the firm posted $1.48 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Hedge funds have recently modified their holdings of the stock. Mascagni Wealth Management Inc. bought a new stake in PayPal in the fourth quarter valued at $47,000. 111 Capital bought a new stake in shares of PayPal in the 4th quarter worth about $2,916,000. Wealth Enhancement Advisory Services LLC increased its position in shares of PayPal by 62.1% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 119,207 shares of the credit services provider’s stock worth $10,174,000 after purchasing an additional 45,670 shares in the last quarter. NorthCrest Asset Manangement LLC lifted its holdings in PayPal by 0.5% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 114,630 shares of the credit services provider’s stock valued at $9,784,000 after purchasing an additional 583 shares during the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ acquired a new position in PayPal in the fourth quarter valued at about $27,676,000. 68.32% of the stock is 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.