PayPal (NASDAQ:PYPL) Stock Price Down 2.6% - Here's Why

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares fell 2.6% on Monday . The company traded as low as $68.11 and last traded at $68.62. 3,040,961 shares were traded during mid-day trading, a decline of 75% from the average session volume of 12,112,029 shares. The stock had previously closed at $70.48.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PYPL shares. Royal Bank of Canada restated an "outperform" rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Morgan Stanley boosted their target price on PayPal from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Citigroup reiterated an "outperform" rating on shares of PayPal in a research note on Wednesday, February 5th. Piper Sandler lowered their price objective on PayPal from $85.00 to $76.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America upgraded shares of PayPal from a "neutral" rating to a "buy" rating and increased their target price for the stock from $86.00 to $103.00 in a research report on Monday, December 9th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $90.03.

PayPal Stock Down 0.5 %

The stock has a market cap of $67.08 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.27 and a beta of 1.52. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a 50-day simple moving average of $81.40 and a two-hundred day simple moving average of $81.11.

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

Insiders Place Their Bets

In other news, Director Gail J. Mcgovern sold 2,446 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the completion of the sale, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.14% of the company's stock.

Hedge Funds Weigh In On PayPal

A number of institutional investors have recently bought and sold shares of the stock. Audent Global Asset Management LLC grew its holdings in shares of PayPal by 164.6% during the 4th quarter. Audent Global Asset Management LLC now owns 37,942 shares of the credit services provider's stock worth $3,238,000 after acquiring an additional 23,604 shares during the period. GHE LLC grew its stake in PayPal by 4.7% in the fourth quarter. GHE LLC now owns 28,214 shares of the credit services provider's stock worth $2,408,000 after purchasing an additional 1,258 shares during the period. Fluent Financial LLC raised its holdings in PayPal by 178.1% in the fourth quarter. Fluent Financial LLC now owns 18,885 shares of the credit services provider's stock worth $1,612,000 after purchasing an additional 12,095 shares in the last quarter. Cim LLC lifted its position in PayPal by 0.3% during the fourth quarter. Cim LLC now owns 98,809 shares of the credit services provider's stock valued at $8,433,000 after buying an additional 296 shares during the period. Finally, Total Wealth Planning & Management Inc. purchased a new position in PayPal during the 4th quarter valued at about $1,001,000. 68.32% of the stock is owned by 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.