PayPal (NASDAQ:PYPL) Trading Down 1.2%

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 1.2% on Thursday . The company traded as low as $76.07 and last traded at $76.52. Approximately 1,651,270 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 13,951,704 shares. The stock had previously closed at $77.44.

Wall Street Analysts Forecast Growth

PYPL has been the topic of a number of recent research reports. Robert W. Baird raised their target price on PayPal from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Barclays raised their target price on PayPal from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, September 27th. TD Cowen raised their target price on PayPal from $68.00 to $70.00 and gave the company a “hold” rating in a report on Wednesday, July 31st. Oppenheimer initiated coverage on PayPal in a report on Tuesday. They set a “market perform” rating on the stock. Finally, Susquehanna lifted their price target on PayPal from $71.00 to $83.00 and gave the stock a “positive” rating in a report on Wednesday, July 31st. Seventeen equities 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $76.41.

PayPal Stock Performance

The company has a 50-day moving average of $69.87 and a 200 day moving average of $65.40. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $78.87 billion, a PE ratio of 19.30, a PEG ratio of 1.11 and a beta of 1.43.

PayPal (NASDAQ:PYPL) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, topping 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 business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the previous year, the business earned $0.83 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. Equities research analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Hedge Funds Weigh In On PayPal

Hedge funds and other institutional investors have recently modified their holdings of the company. Pittenger & Anderson Inc. boosted its holdings in shares of PayPal by 77.5% in the 1st quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 172 shares in the last quarter. American National Bank purchased a new position in shares of PayPal in the 1st quarter worth about $27,000. Register Financial Advisors LLC purchased a new position in shares of PayPal in the 1st quarter worth about $30,000. CarsonAllaria Wealth Management Ltd. lifted its stake in shares of PayPal by 65.8% in the 1st quarter. CarsonAllaria Wealth Management Ltd. now owns 466 shares of the credit services provider’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Finally, Family Firm Inc. bought a new stake in shares of PayPal in the 2nd quarter valued at about $29,000. 68.32% of the stock is currently owned by hedge funds and other institutional investors.

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.