PayPal (NASDAQ:PYPL) Trading Down 0.6%

PayPal Holdings, Inc. (NASDAQ:PYPL) traded down 0.6% during mid-day trading on Monday . The company traded as low as $59.91 and last traded at $60.23. 2,938,645 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 14,960,453 shares. The stock had previously closed at $60.61.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PYPL shares. Citigroup raised their price target on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. TD Cowen upped their price target on PayPal from $58.00 to $68.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st. Mizuho upgraded PayPal from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $68.00 to $90.00 in a research report on Thursday, May 30th. The Goldman Sachs Group reissued a “neutral” rating and set a $69.00 target price on shares of PayPal in a research report on Monday. Finally, UBS Group upped their price target on shares of PayPal from $63.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Twenty-one research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $73.64.

PayPal Trading Down 0.3 %

The firm’s 50-day simple moving average is $63.44 and its 200-day simple moving average is $62.47. The firm has a market capitalization of $62.06 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 0.97 and a beta of 1.43. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The company had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business’s revenue was up 9.4% on a year-over-year basis. Analysts anticipate that PayPal Holdings, Inc. will post 4.14 EPS for the current year.

Insider Transactions at PayPal

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

Hedge Funds Weigh In On PayPal

Large investors have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of PayPal during the fourth quarter valued at about $749,561,000. The Manufacturers Life Insurance Company lifted its stake in shares of PayPal by 125.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,724,188 shares of the credit services provider’s stock worth $105,882,000 after buying an additional 958,130 shares in the last quarter. Clearbridge Investments LLC lifted its position in PayPal by 15.8% during the first quarter. Clearbridge Investments LLC now owns 6,644,317 shares of the credit services provider’s stock valued at $445,103,000 after purchasing an additional 904,804 shares during the period. Morgan Stanley boosted its holdings in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock worth $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Finally, Boston Partners raised its stake in PayPal by 4,024.5% during the 4th quarter. Boston Partners now owns 783,248 shares of the credit services provider’s stock valued at $48,099,000 after buying an additional 764,258 shares during 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.