PayPal (NASDAQ:PYPL) Trading Down 0.1% After Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report)'s stock price fell 0.1% during mid-day trading on Thursday after Piper Sandler lowered their price target on the stock from $85.00 to $76.00. Piper Sandler currently has a neutral rating on the stock. PayPal traded as low as $71.26 and last traded at $71.97. 3,123,622 shares were traded during trading, a decline of 73% from the average session volume of 11,634,635 shares. The stock had previously closed at $72.05.

Other research analysts have also issued research reports about the stock. Phillip Securities reaffirmed an "accumulate" rating and issued a $90.00 target price (up previously from $80.00) on shares of PayPal in a research note on Friday, November 1st. Bank of America upgraded shares of PayPal from a "neutral" rating to a "buy" rating and increased their price objective for the company from $86.00 to $103.00 in a report on Monday, December 9th. Robert W. Baird lowered their target price on shares of PayPal from $100.00 to $95.00 and set an "outperform" rating for the company in a report on Wednesday, February 5th. Canaccord Genuity Group increased their price target on PayPal from $80.00 to $96.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their price target on PayPal from $79.00 to $87.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Fourteen research 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 stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $90.03.

Insider Transactions at PayPal

In other news, Director Gail J. Mcgovern sold 2,446 shares of the business's stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total value of $176,478.90. Following the sale, the director now owns 29,734 shares of the company's stock, valued at $2,145,308.10. The trade was a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC bought a new position in shares of PayPal in the 4th quarter valued at about $25,000. Gordian Capital Singapore Pte Ltd bought a new stake in PayPal during the third quarter worth about $26,000. Rosenberg Matthew Hamilton boosted its position in PayPal by 67.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider's stock valued at $26,000 after purchasing an additional 125 shares during the last quarter. Hurley Capital LLC bought a new position in PayPal in the fourth quarter valued at approximately $27,000. Finally, Sugarloaf Wealth Management LLC increased its position in shares of PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider's stock worth $30,000 after purchasing an additional 272 shares during the last quarter. 68.32% of the stock is currently owned by institutional investors and hedge funds.

PayPal Trading Up 0.5 %

The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average price of $83.61 and a 200-day moving average price of $81.05. The company has a market cap of $70.30 billion, a P/E ratio of 17.72, a PEG ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The credit services provider reported $1.19 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter last year, the company posted $1.48 earnings per share. The company's revenue for the quarter was up 4.2% compared to the same quarter last year. Analysts forecast that PayPal Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

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.