PayPal (NASDAQ:PYPL) Trading Down 1.9%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price traded down 1.9% on Wednesday . The company traded as low as $64.32 and last traded at $64.67. 2,258,271 shares changed hands during trading, a decline of 86% from the average session volume of 16,263,874 shares. The stock had previously closed at $65.92.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PYPL shares. Wells Fargo & Company lifted their target price on PayPal from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, May 1st. Evercore ISI upped their target price on shares of PayPal from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their price target on shares of PayPal from $74.00 to $84.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Wedbush reissued an “outperform” rating and issued a $85.00 price objective on shares of PayPal in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PayPal from $75.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, February 8th. Twenty-five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.73.

PayPal Stock Performance

The company has a market cap of $66.75 billion, a PE ratio of 16.29, a P/E/G ratio of 1.18 and a beta of 1.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $63.93 and its 200 day simple moving average is $60.72.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The firm had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.52 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, equities analysts anticipate that PayPal Holdings, Inc. will post 4.13 EPS for the current year.

Insider Activity

In other PayPal news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $60.64, for a total transaction of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares in the company, valued at $1,420,795.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Bleakley Financial Group LLC grew its position in shares of PayPal by 2.4% in the first quarter. Bleakley Financial Group LLC now owns 14,763 shares of the credit services provider’s stock valued at $989,000 after purchasing an additional 344 shares during the last quarter. ProShare Advisors LLC grew its holdings in PayPal by 18.3% during the 1st quarter. ProShare Advisors LLC now owns 1,266,386 shares of the credit services provider’s stock valued at $84,835,000 after buying an additional 196,299 shares during the last quarter. Avantax Advisory Services Inc. increased its position in PayPal by 13.6% during the first quarter. Avantax Advisory Services Inc. now owns 27,149 shares of the credit services provider’s stock worth $1,819,000 after buying an additional 3,245 shares in the last quarter. Addison Capital Co raised its holdings in shares of PayPal by 7.1% in the first quarter. Addison Capital Co now owns 36,410 shares of the credit services provider’s stock worth $2,439,000 after acquiring an additional 2,419 shares during the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in shares of PayPal by 7.5% in the first quarter. Hohimer Wealth Management LLC now owns 5,902 shares of the credit services provider’s stock valued at $395,000 after acquiring an additional 413 shares in the last quarter. Institutional investors and hedge funds 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.