PayPal (NASDAQ:PYPL) Shares Down 0.3% - Here's Why

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price dropped 0.3% on Wednesday . The company traded as low as $90.30 and last traded at $90.62. Approximately 1,476,533 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 12,965,283 shares. The stock had previously closed at $90.86.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PYPL. UBS Group boosted their price objective on shares of PayPal from $72.00 to $85.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed a "neutral" rating and set a $88.00 price target on shares of PayPal in a research report on Friday, November 22nd. The Goldman Sachs Group increased their price objective on PayPal from $79.00 to $87.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a "hold" rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, Monness Crespi & Hardt increased their price target on PayPal from $95.00 to $110.00 and gave the company a "buy" rating in a research note on Monday, October 28th. Fifteen analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal has a consensus rating of "Moderate Buy" and a consensus price target of $88.42.

PayPal Trading Down 6.0 %

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 company's 50-day moving average is $84.29 and its 200 day moving average is $72.78. The company has a market cap of $85.67 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.66 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. The firm had revenue of $7.85 billion for the quarter, compared to analysts' expectations of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The company's quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Research analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.

Institutional Trading of PayPal

Institutional investors and hedge funds have recently made changes to their positions in the business. World Investment Advisors LLC purchased a new stake in PayPal in the 3rd quarter worth $387,435,000. United Advisor Group LLC purchased a new stake in shares of PayPal during the third quarter worth about $810,000. FCG Investment Co acquired a new position in shares of PayPal during the 3rd quarter worth about $1,079,000. Equity Investment Corp lifted its stake in PayPal by 3.5% in the 3rd quarter. Equity Investment Corp now owns 1,998,298 shares of the credit services provider's stock valued at $155,927,000 after buying an additional 67,497 shares in the last quarter. Finally, Weil Company Inc. boosted its holdings in PayPal by 68.9% in the 3rd quarter. Weil Company Inc. now owns 41,689 shares of the credit services provider's stock worth $3,253,000 after buying an additional 17,003 shares during the last quarter. 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.