PayPal (NASDAQ:PYPL) Shares Down 9.2% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price fell 9.2% during mid-day trading on Tuesday . The stock traded as low as $80.20 and last traded at $81.31. 21,844,809 shares traded hands during trading, an increase of 148% from the average session volume of 8,822,078 shares. The stock had previously closed at $89.51.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PYPL. Wolfe Research raised PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 target price for the company in a research report on Friday, December 13th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 target price on shares of PayPal in a research report on Thursday, December 12th. Phillip Securities reaffirmed an "accumulate" rating and set a $90.00 target price (up from $80.00) on shares of PayPal in a research report on Friday, November 1st. Macquarie raised their target price on PayPal from $95.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 17th. Finally, Mizuho raised their target price on PayPal from $90.00 to $100.00 and gave the stock an "outperform" rating in a research report on Monday, October 14th. Fourteen 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 company. According to MarketBeat.com, PayPal currently has a consensus rating of "Moderate Buy" and an average target price of $89.29.

PayPal Trading Down 1.6 %

The firm's fifty day moving average price is $87.71 and its two-hundred day moving average price is $79.38. The stock has a market cap of $76.48 billion, a P/E ratio of 18.45, a PEG ratio of 1.49 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25.

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, topping the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 14.08% and a return on equity of 23.44%. 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 earned $1.48 earnings per share. The firm's quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities research analysts forecast that PayPal Holdings, Inc. will post 4.58 EPS for the current year.

Institutional Trading of PayPal

A number of institutional investors have recently modified their holdings of the company. Czech National Bank raised its holdings in PayPal by 4.5% in the 3rd quarter. Czech National Bank now owns 208,260 shares of the credit services provider's stock worth $16,251,000 after acquiring an additional 8,925 shares during the last quarter. Atomi Financial Group Inc. raised its holdings in PayPal by 13.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 10,231 shares of the credit services provider's stock worth $798,000 after acquiring an additional 1,211 shares during the last quarter. City Holding Co. raised its holdings in PayPal by 2,480.0% in the 3rd quarter. City Holding Co. now owns 12,255 shares of the credit services provider's stock worth $956,000 after acquiring an additional 11,780 shares during the last quarter. CWM LLC raised its holdings in PayPal by 10.1% in the 3rd quarter. CWM LLC now owns 123,565 shares of the credit services provider's stock worth $9,642,000 after acquiring an additional 11,321 shares during the last quarter. Finally, Marcum Wealth LLC purchased a new position in PayPal in the 3rd quarter worth approximately $284,000. 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.