PayPal (NASDAQ:PYPL) Stock Price Down 0.6% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL)’s stock price fell 0.6% on Tuesday . The company traded as low as $85.85 and last traded at $86.42. 3,648,299 shares traded hands during trading, a decline of 73% from the average session volume of 13,510,818 shares. The stock had previously closed at $86.94.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PYPL. JPMorgan Chase & Co. increased their price objective on shares of PayPal from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a research report on Wednesday, October 30th. Daiwa Capital Markets raised shares of PayPal from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $68.00 to $72.00 in a research report on Friday, August 9th. StockNews.com raised shares of PayPal from a “hold” rating to a “buy” rating in a research report on Sunday, November 3rd. Finally, Morgan Stanley increased their price objective on shares of PayPal from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Fifteen research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.45.

PayPal Price Performance

The stock’s fifty day moving average price is $78.25 and its two-hundred day moving average price is $68.76. The firm has a market capitalization of $86.01 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.43. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.49.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The firm had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same period last year, the business earned $0.97 EPS. PayPal’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts expect that PayPal Holdings, Inc. will post 4.56 EPS for the current year.

Institutional Investors Weigh In On PayPal

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Family Firm Inc. acquired a new stake in PayPal during the 2nd quarter worth $29,000. SYSTM Wealth Solutions LLC raised its stake in PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock worth $29,000 after acquiring an additional 167 shares in the last quarter. Tortoise Investment Management LLC raised its stake in PayPal by 930.0% during the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider’s stock worth $30,000 after acquiring an additional 465 shares in the last quarter. Planning Capital Management Corp raised its stake in PayPal by 186.1% during the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider’s stock worth $32,000 after acquiring an additional 268 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in PayPal in the first quarter valued at $34,000. 68.32% of the stock is currently 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.