PayPal (NASDAQ:PYPL) Stock Price Down 0.7%

PayPal Holdings, Inc. (NASDAQ:PYPL) fell 0.7% during mid-day trading on Wednesday . The stock traded as low as $71.27 and last traded at $71.38. 3,436,691 shares were traded during trading, a decline of 76% from the average session volume of 14,443,331 shares. The stock had previously closed at $71.89.

Analyst Upgrades and Downgrades

PYPL has been the topic of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $84.00 price target on shares of PayPal in a research report on Wednesday, July 31st. Needham & Company LLC reiterated a “hold” rating on shares of PayPal in a research report on Tuesday, April 30th. UBS Group upped their price target on PayPal from $71.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. raised their price objective on PayPal from $77.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Daiwa America raised shares of PayPal from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, August 9th. Seventeen research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.56.

PayPal Price Performance

The company has a market capitalization of $73.30 billion, a PE ratio of 17.94, a P/E/G ratio of 0.97 and a beta of 1.42. The firm has a fifty day simple moving average of $61.77 and a 200 day simple moving average of $62.61. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

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

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Pittenger & Anderson Inc. boosted its position in 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 purchasing an additional 172 shares in the last quarter. American National Bank purchased a new stake in shares of PayPal during the first quarter valued at about $27,000. Private Wealth Management Group LLC bought a new stake in shares of PayPal in the 4th quarter valued at about $29,000. Family Firm Inc. purchased a new position in shares of PayPal in the 2nd quarter worth approximately $29,000. Finally, SYSTM Wealth Solutions LLC raised its stake in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Hedge funds and other 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.