PayPal (NASDAQ:PYPL) Trading Down 1.1% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares dropped 1.1% during mid-day trading on Wednesday . The company traded as low as $77.54 and last traded at $77.73. Approximately 2,705,788 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 11,225,436 shares. The stock had previously closed at $78.62.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Robert W. Baird dropped their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating on the stock in a report on Wednesday, February 5th. Keefe, Bruyette & Woods boosted their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Bank of America raised shares of PayPal from a "neutral" rating to a "buy" rating and raised their target price for the company from $86.00 to $103.00 in a research note on Monday, December 9th. Macquarie boosted their price target on PayPal from $115.00 to $117.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th. Finally, Barclays raised their price objective on PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research report on Tuesday, December 17th. Thirteen analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, PayPal has a consensus rating of "Moderate Buy" and an average target price of $90.52.

PayPal Trading Down 3.5 %

The stock has a 50 day simple moving average of $85.50 and a 200-day simple moving average of $80.53. The firm has a market capitalization of $74.14 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its earnings results on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analyst estimates of $8.27 billion. During the same period in the previous year, the business posted $1.48 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current fiscal year.

Institutional Investors Weigh In On PayPal

Hedge funds have recently modified their holdings of the business. Foundations Investment Advisors LLC grew its stake in shares of PayPal by 11.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,243 shares of the credit services provider's stock valued at $331,000 after acquiring an additional 421 shares during the period. Sequoia Financial Advisors LLC raised its stake in PayPal by 34.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 25,668 shares of the credit services provider's stock worth $2,003,000 after acquiring an additional 6,564 shares during the period. Signaturefd LLC boosted its position in shares of PayPal by 5.8% in the third quarter. Signaturefd LLC now owns 13,946 shares of the credit services provider's stock worth $1,088,000 after purchasing an additional 761 shares during the period. Eastern Bank bought a new position in shares of PayPal in the third quarter worth approximately $311,000. Finally, Lecap Asset Management Ltd. boosted its position in shares of PayPal by 236.1% in the third quarter. Lecap Asset Management Ltd. now owns 19,416 shares of the credit services provider's stock worth $1,515,000 after purchasing an additional 13,640 shares during the period. Institutional investors 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.