PayPal (NASDAQ:PYPL) Stock Price Down 1.6% - Here's Why

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares traded down 1.6% on Tuesday . The stock traded as low as $86.88 and last traded at $88.76. 2,690,302 shares changed hands during trading, a decline of 66% from the average session volume of 8,022,318 shares. The stock had previously closed at $90.24.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PYPL. Sanford C. Bernstein cut shares of PayPal from an "outperform" rating to a "market perform" rating and increased their target price for the company from $75.00 to $80.00 in a report on Thursday, October 10th. Robert W. Baird lifted their price objective on PayPal from $80.00 to $91.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Stephens boosted their target price on PayPal from $75.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Wolfe Research upgraded PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price target for the company in a research report on Friday, December 13th. Finally, Piper Sandler boosted their price objective on shares of PayPal from $88.00 to $93.00 and gave the stock a "neutral" rating in a research report on Friday. Fourteen equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $89.48.

PayPal Trading Down 2.3 %

The firm has a fifty day moving average of $87.87 and a 200-day moving average of $78.27. The stock has a market capitalization of $88.41 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.54 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25.

PayPal (NASDAQ:PYPL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. The business had revenue of $7.85 billion during 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 company's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Kestra Private Wealth Services LLC boosted its stake in shares of PayPal by 15.7% in the fourth quarter. Kestra Private Wealth Services LLC now owns 66,474 shares of the credit services provider's stock valued at $5,674,000 after purchasing an additional 9,039 shares during the period. Quotient Wealth Partners LLC grew its stake in shares of PayPal by 15.5% during the fourth quarter. Quotient Wealth Partners LLC now owns 4,192 shares of the credit services provider's stock valued at $358,000 after acquiring an additional 562 shares in the last quarter. Empowered Funds LLC increased its position in shares of PayPal by 4.8% during the fourth quarter. Empowered Funds LLC now owns 140,314 shares of the credit services provider's stock worth $11,976,000 after acquiring an additional 6,443 shares during the last quarter. Moloney Securities Asset Management LLC lifted its stake in shares of PayPal by 1.0% in the fourth quarter. Moloney Securities Asset Management LLC now owns 15,536 shares of the credit services provider's stock worth $1,326,000 after acquiring an additional 155 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its holdings in PayPal by 2.6% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 10,484 shares of the credit services provider's stock valued at $895,000 after purchasing an additional 263 shares during the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

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.

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