PayPal (NASDAQ:PYPL) Stock Price Down 0.8% - Here's What Happened

PayPal Holdings, Inc. (NASDAQ:PYPL - Get Free Report) shares traded down 0.8% on Monday . The stock traded as low as $85.97 and last traded at $86.42. 1,302,881 shares changed hands during trading, a decline of 90% from the average session volume of 12,985,535 shares. The stock had previously closed at $87.13.

Wall Street Analysts Forecast Growth

PYPL has been the subject of a number of research reports. Wells Fargo & Company lifted their target price on PayPal from $70.00 to $75.00 and gave the company an "equal weight" rating in a research note on Thursday, October 17th. Sanford C. Bernstein downgraded PayPal from an "outperform" rating to a "market perform" rating and upped their price objective for the stock from $75.00 to $80.00 in a research note on Thursday, October 10th. Oppenheimer assumed coverage on PayPal in a research report on Tuesday, October 1st. They issued a "market perform" rating on the stock. Wolfe Research raised shares of PayPal from a "peer perform" rating to an "outperform" rating and set a $107.00 price target for the company in a report on Friday, December 13th. Finally, Keefe, Bruyette & Woods increased 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 research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $88.42.

PayPal Trading Down 0.3 %

The company has a fifty day simple moving average of $84.65 and a 200-day simple moving average of $73.26. The stock has a market cap of $87.12 billion, a price-to-earnings ratio of 20.74, a P/E/G ratio of 1.66 and a beta of 1.44. 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 quarterly earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.13. PayPal had a net margin of 14.08% and a return on equity of 23.44%. The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.88 billion. During the same quarter in the previous year, the business earned $0.97 earnings per share. The firm's revenue was up 6.0% compared to the same quarter last year. On average, research analysts forecast that PayPal Holdings, Inc. will post 4.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd purchased a new position in PayPal during the 3rd quarter valued at about $26,000. SYSTM Wealth Solutions LLC grew its position in PayPal by 50.6% during the second quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider's stock valued at $29,000 after purchasing an additional 167 shares in the last quarter. Tortoise Investment Management LLC increased its stake in PayPal by 930.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 515 shares of the credit services provider's stock valued at $30,000 after buying an additional 465 shares during the period. Planning Capital Management Corp lifted its position in PayPal by 186.1% in the 3rd quarter. Planning Capital Management Corp now owns 412 shares of the credit services provider's stock worth $32,000 after buying an additional 268 shares in the last quarter. Finally, Financial Management Professionals Inc. lifted its position in PayPal by 125.3% in the 3rd quarter. Financial Management Professionals Inc. now owns 437 shares of the credit services provider's stock worth $34,000 after buying an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 68.32% of the company's stock.

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.