PayPal (NASDAQ:PYPL) Stock Price Down 0.1% on Analyst Downgrade

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) dropped 0.1% during 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. Approximately 3,123,622 shares changed hands during trading, a decline of 73% from the average daily volume of 11,634,635 shares. The stock had previously closed at $72.05.

A number of other brokerages have also recently issued reports on PYPL. Citigroup reissued an "outperform" rating on shares of PayPal in a report on Wednesday, February 5th. Bank of America upgraded PayPal from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $86.00 to $103.00 in a research note on Monday, December 9th. BMO Capital Markets increased their target price on shares of PayPal from $73.00 to $82.00 and gave the stock a "market perform" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price objective on PayPal from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 26th. Finally, Barclays lifted their price objective on PayPal from $92.00 to $110.00 and gave the company an "overweight" rating in a research note on Tuesday, December 17th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.03.

Insider Activity at PayPal

In other PayPal 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 transaction of $176,478.90. Following the transaction, the director now directly owns 29,734 shares of the company's stock, valued at approximately $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

A number of large investors have recently modified their holdings of PYPL. Focus Financial Network Inc. boosted its holdings in shares of PayPal by 1.8% during the 3rd quarter. Focus Financial Network Inc. now owns 12,132 shares of the credit services provider's stock valued at $947,000 after buying an additional 214 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in PayPal by 20.1% during the third quarter. Farther Finance Advisors LLC now owns 8,890 shares of the credit services provider's stock worth $694,000 after acquiring an additional 1,485 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in PayPal by 7.5% during the third quarter. Chicago Partners Investment Group LLC now owns 4,798 shares of the credit services provider's stock worth $388,000 after acquiring an additional 334 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in PayPal by 0.4% in the third quarter. Janney Montgomery Scott LLC now owns 189,842 shares of the credit services provider's stock worth $14,813,000 after purchasing an additional 840 shares during the period. Finally, GFS Advisors LLC increased its stake in shares of PayPal by 28,766.7% during the third quarter. GFS Advisors LLC now owns 5,196 shares of the credit services provider's stock valued at $405,000 after purchasing an additional 5,178 shares in the last quarter. Institutional investors own 68.32% of the company's stock.

PayPal Stock Down 1.8 %

The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.48. The company's fifty day moving average price is $83.61 and its 200-day moving average price is $81.16. The stock has a market capitalization of $69.00 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44.

PayPal (NASDAQ:PYPL - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.08. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The business had revenue of $8.37 billion during the quarter, compared to analysts' expectations of $8.27 billion. During the same quarter in the previous year, the business earned $1.48 earnings per share. The firm's quarterly revenue 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 year.

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.