PayPal (NASDAQ:PYPL) Stock Price Down 2.4%

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) fell 2.4% on Tuesday . The stock traded as low as $67.15 and last traded at $67.66. 3,363,962 shares were traded during mid-day trading, a decline of 76% from the average session volume of 14,131,869 shares. The stock had previously closed at $69.35.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. StockNews.com lowered PayPal from a “buy” rating to a “hold” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of PayPal from $77.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Citigroup upped their price objective on shares of PayPal from $79.00 to $81.00 and gave the company a “buy” rating in a research note on Monday, June 10th. New Street Research assumed coverage on PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 target price on the stock. Finally, Wells Fargo & Company upped their price target on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 31st. Eighteen equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $75.56.

PayPal Stock Down 1.3 %

The company has a market cap of $69.97 billion, a PE ratio of 17.04, a PEG ratio of 0.98 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average is $64.73 and its 200-day moving average is $63.67.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.20. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The company had revenue of $7.89 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period in the previous year, the business earned $0.83 earnings per share. PayPal’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts predict that PayPal Holdings, Inc. will post 4.42 EPS for the current year.

Hedge Funds Weigh In On PayPal

Several large investors have recently added to or reduced their stakes in PYPL. SYSTM Wealth Solutions LLC lifted its stake in shares of PayPal by 50.6% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 497 shares of the credit services provider’s stock valued at $29,000 after buying an additional 167 shares in the last quarter. Pittenger & Anderson Inc. lifted its position in shares of PayPal by 77.5% in the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after acquiring an additional 172 shares in the last quarter. Verity Asset Management Inc. boosted its stake in shares of PayPal by 1.9% in the first quarter. Verity Asset Management Inc. now owns 9,708 shares of the credit services provider’s stock worth $650,000 after acquiring an additional 181 shares during the period. Indiana Trust & Investment Management CO grew its position in shares of PayPal by 18.6% during the first quarter. Indiana Trust & Investment Management CO now owns 1,175 shares of the credit services provider’s stock worth $79,000 after purchasing an additional 184 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised its stake in PayPal by 3.1% during the 2nd quarter. Checchi Capital Advisers LLC now owns 6,166 shares of the credit services provider’s stock valued at $358,000 after purchasing an additional 184 shares during the period. 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.