PayPal Holdings, Inc. (NASDAQ:PYPL – Get Free Report) shares were down 0.8% on Monday . The company traded as low as $85.97 and last traded at $86.42. Approximately 1,302,881 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 12,985,535 shares. The stock had previously closed at $87.13.
Wall Street Analysts Forecast Growth
Several brokerages recently weighed in on PYPL. Wells Fargo & Company raised 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. Susquehanna lifted their target price on PayPal from $83.00 to $94.00 and gave the company a “positive” rating in a research report on Wednesday, October 30th. Morgan Stanley upped their price target on PayPal from $76.00 to $90.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Piper Sandler restated a “neutral” rating and set a $88.00 price objective on shares of PayPal in a research note on Friday, November 22nd. Finally, Canaccord Genuity Group upped their target price on shares of PayPal from $80.00 to $96.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Fifteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, PayPal has a consensus rating of “Moderate Buy” and a consensus price target of $88.42.
PayPal Trading Down 0.3 %
The company has a market capitalization of $87.12 billion, a PE ratio of 20.74, a P/E/G ratio of 1.66 and a beta of 1.44. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50 day moving average is $84.65 and its 200 day moving average is $73.26.
PayPal (NASDAQ:PYPL – Get Free Report) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.13. The company had revenue of $7.85 billion during the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.08% and a return on equity of 23.44%. PayPal’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.97 earnings per share. As a group, equities analysts predict that PayPal Holdings, Inc. will post 4.57 EPS for the current year.
Institutional Investors Weigh In On PayPal
Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its stake in PayPal by 2.1% in the third quarter. Principal Financial Group Inc. now owns 1,182,316 shares of the credit services provider’s stock worth $92,256,000 after purchasing an additional 24,193 shares during the period. Lord Abbett & CO. LLC bought a new position in shares of PayPal in the 3rd quarter worth about $53,586,000. 1ST Source Bank lifted its position in PayPal by 2.5% during the 3rd quarter. 1ST Source Bank now owns 15,975 shares of the credit services provider’s stock valued at $1,247,000 after acquiring an additional 391 shares during the period. Copley Financial Group Inc. purchased a new stake in PayPal in the third quarter worth about $249,000. Finally, Franklin Resources Inc. increased its stake in shares of PayPal by 120.3% during the third quarter. Franklin Resources Inc. now owns 1,555,240 shares of the credit services provider’s stock valued at $125,461,000 after purchasing an additional 849,311 shares in the last quarter. 68.32% of the stock is owned by hedge funds and other institutional investors.
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.