PayPal (NASDAQ:PYPL) Stock Price Down 0% - Here's Why

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) dropped 0% during mid-day trading on Thursday . The stock traded as low as $86.79 and last traded at $87.94. Approximately 7,397,532 shares traded hands during mid-day trading, an increase of 10% from the average daily volume of 6,732,175 shares. The stock had previously closed at $87.97.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PYPL. Stephens boosted their target price on shares of PayPal from $75.00 to $85.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. Wolfe Research upgraded PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price objective for the company in a research report on Friday, December 13th. JPMorgan Chase & Co. raised their target price on PayPal from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price target on shares of PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised 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. 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $88.65.

PayPal Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $88.16 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.66 and a beta of 1.44. The firm's fifty day moving average is $86.51 and its 200 day moving average is $75.52.

PayPal (NASDAQ:PYPL - Get Free Report) last released its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.13. The business had revenue of $7.85 billion during the quarter, compared to the consensus estimate of $7.88 billion. PayPal had a return on equity of 23.44% and a net margin of 14.08%. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period last year, the company earned $0.97 earnings per share. As a group, analysts predict that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently modified their holdings of PYPL. Gordian Capital Singapore Pte Ltd bought a new stake in shares of PayPal in the 3rd quarter valued at about $26,000. SYSTM Wealth Solutions LLC boosted its stake in PayPal by 50.6% in the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after acquiring an additional 167 shares in the last quarter. Planning Capital Management Corp grew its holdings in PayPal by 186.1% in the third quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after purchasing an additional 268 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of PayPal by 125.3% during the third quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after purchasing an additional 243 shares in the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in shares of PayPal during the 3rd quarter valued at $36,000. 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.