PayPal (NASDAQ:PYPL) Shares Down 0% - Here's What Happened

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) were down 0% during trading on Thursday . The company traded as low as $87.26 and last traded at $88.24. Approximately 882,702 shares changed hands during trading, a decline of 93% from the average daily volume of 12,916,177 shares. The stock had previously closed at $88.25.

Analyst Ratings Changes

A number of research firms recently weighed in on PYPL. UBS Group upped their target price on shares of PayPal from $72.00 to $85.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Morgan Stanley raised their target price on PayPal from $76.00 to $90.00 and gave the company an "equal weight" rating in a report on Wednesday, December 18th. Canaccord Genuity Group lifted their target price on PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Needham & Company LLC reissued a "hold" rating on shares of PayPal in a research report on Wednesday, October 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of PayPal from $92.00 to $104.00 and gave the stock an "outperform" rating in a report on Monday, December 9th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.42.

PayPal Trading Down 0.1 %

The company has a market capitalization of $88.36 billion, a PE ratio of 21.04, a PEG ratio of 1.66 and a beta of 1.44. The stock has a fifty day moving average of $85.10 and a two-hundred day moving average of $73.65. 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 - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 EPS for the quarter, beating 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 company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter last year, the firm earned $0.97 EPS. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PayPal

Large investors have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of PayPal by 86.3% in the third quarter. FMR LLC now owns 16,762,080 shares of the credit services provider's stock worth $1,307,945,000 after buying an additional 7,767,072 shares during the period. Mizuho Securities USA LLC raised its stake in shares of PayPal by 12,919.4% during the third quarter. Mizuho Securities USA LLC now owns 10,500,000 shares of the credit services provider's stock valued at $819,315,000 after acquiring an additional 10,419,351 shares during the last quarter. Legal & General Group Plc grew its stake in shares of PayPal by 3.3% in the second quarter. Legal & General Group Plc now owns 8,636,644 shares of the credit services provider's stock worth $501,184,000 after purchasing an additional 276,287 shares during the last quarter. Clearbridge Investments LLC increased its holdings in PayPal by 28.1% during the 2nd quarter. Clearbridge Investments LLC now owns 8,511,242 shares of the credit services provider's stock valued at $493,907,000 after purchasing an additional 1,866,925 shares during the period. Finally, Primecap Management Co. CA raised its position in PayPal by 21.6% during the 3rd quarter. Primecap Management Co. CA now owns 6,015,816 shares of the credit services provider's stock valued at $469,414,000 after purchasing an additional 1,069,356 shares during the last quarter. 68.32% of the stock is 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.