PayPal (NASDAQ:PYPL) Trading Down 2.4%

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price dropped 2.4% during mid-day trading on Wednesday . The stock traded as low as $62.02 and last traded at $62.54. Approximately 4,948,411 shares changed hands during trading, a decline of 68% from the average daily volume of 15,484,872 shares. The stock had previously closed at $64.10.

Analysts Set New Price Targets

PYPL has been the topic of several analyst reports. TD Cowen lifted their target price on PayPal from $58.00 to $68.00 and gave the company a "hold" rating in a research report on Wednesday, May 1st. Canaccord Genuity Group cut their price objective on PayPal from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, February 8th. Royal Bank of Canada boosted their price objective on PayPal from $74.00 to $84.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 1st. Wedbush reissued an "outperform" rating and issued a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Finally, DZ Bank cut PayPal from a "buy" rating to a "hold" rating and set a $60.00 price objective on the stock. in a research report on Friday, February 9th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.73.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The stock has a market capitalization of $65.05 billion, a P/E ratio of 15.75, a price-to-earnings-growth ratio of 1.17 and a beta of 1.41. The firm has a 50-day moving average price of $64.85 and a 200 day moving average price of $61.52.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.14). The firm had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. PayPal's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. On average, analysts expect that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

Insider Activity at PayPal

In related news, SVP Frank Keller sold 7,686 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the sale, the senior vice president now directly owns 23,430 shares in the company, valued at approximately $1,420,795.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On PayPal

Institutional investors and hedge funds have recently bought and sold shares of the business. Duality Advisers LP bought a new position in shares of PayPal in the 3rd quarter worth approximately $207,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of PayPal by 4.8% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,209 shares of the credit services provider's stock worth $831,000 after acquiring an additional 648 shares in the last quarter. Certuity LLC raised its position in shares of PayPal by 5.0% in the 3rd quarter. Certuity LLC now owns 6,727 shares of the credit services provider's stock worth $393,000 after acquiring an additional 318 shares in the last quarter. MGO One Seven LLC raised its position in shares of PayPal by 16.7% in the 3rd quarter. MGO One Seven LLC now owns 15,149 shares of the credit services provider's stock worth $886,000 after acquiring an additional 2,166 shares in the last quarter. Finally, SP Asset Management LLC raised its position in shares of PayPal by 2.1% in the 3rd quarter. SP Asset Management LLC now owns 49,565 shares of the credit services provider's stock worth $2,898,000 after acquiring an additional 1,010 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

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.