PayPal (NASDAQ:PYPL) Shares Down 0.4% – What’s Next?

PayPal Holdings, Inc. (NASDAQ:PYPL) shares dropped 0.4% during mid-day trading on Thursday . The stock traded as low as $86.27 and last traded at $86.57. Approximately 5,477,894 shares changed hands during trading, a decline of 59% from the average daily volume of 13,295,025 shares. The stock had previously closed at $86.94.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on PayPal from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Phillip Securities reiterated an “accumulate” rating and set a $90.00 price target (up previously from $80.00) on shares of PayPal in a report on Friday, November 1st. Sanford C. Bernstein cut shares of PayPal from an “outperform” rating to a “market perform” rating and boosted their price objective for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of PayPal from $84.00 to $89.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their target price on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Sixteen research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.60.

PayPal Trading Up 0.2 %

The business’s fifty day moving average is $81.69 and its two-hundred day moving average is $70.45. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.49. The firm has a market cap of $86.99 billion, a price-to-earnings ratio of 20.71, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43.

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

Institutional Investors Weigh In On PayPal

Several institutional investors have recently modified their holdings of PYPL. Bruce G. Allen Investments LLC raised its position in shares of PayPal by 7.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 1,810 shares of the credit services provider’s stock valued at $141,000 after acquiring an additional 124 shares during the last quarter. First United Bank & Trust grew its stake in shares of PayPal by 6.4% during the third quarter. First United Bank & Trust now owns 2,395 shares of the credit services provider’s stock worth $187,000 after purchasing an additional 145 shares during the period. Ritholtz Wealth Management increased its holdings in PayPal by 3.3% in the third quarter. Ritholtz Wealth Management now owns 4,724 shares of the credit services provider’s stock valued at $369,000 after purchasing an additional 152 shares during the last quarter. Laraway Financial Advisors Inc lifted its stake in PayPal by 3.8% in the third quarter. Laraway Financial Advisors Inc now owns 4,228 shares of the credit services provider’s stock valued at $330,000 after buying an additional 154 shares during the period. Finally, SYSTM Wealth Solutions LLC boosted its holdings in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after buying an additional 167 shares during the last quarter. Institutional investors and hedge funds own 68.32% of the company’s stock.

PayPal Company Profile

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.