PayPal (NASDAQ:PYPL) Shares Down 0.2%

PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 0.2% during trading on Friday . The company traded as low as $69.86 and last traded at $70.25. Approximately 1,854,884 shares were traded during trading, a decline of 87% from the average daily volume of 14,067,749 shares. The stock had previously closed at $70.36.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of PayPal from $65.00 to $72.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 31st. UBS Group lifted their price target on PayPal from $71.00 to $72.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. William Blair upgraded shares of PayPal to a “hold” rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their price target on PayPal from $65.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st. Finally, New Street Research assumed coverage on PayPal in a research note on Friday, May 31st. They issued a “buy” rating and a $80.00 price objective on the stock. Eighteen investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $75.56.

PayPal Price Performance

The stock has a 50 day simple moving average of $65.34 and a two-hundred day simple moving average of $63.82. The firm has a market cap of $71.88 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 0.99 and a beta of 1.43. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.24 and a current ratio of 1.24.

PayPal (NASDAQ:PYPL) last announced its earnings results on Tuesday, July 30th. The credit services provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.20. The business had revenue of $7.89 billion during the quarter, compared to analysts’ expectations of $7.82 billion. PayPal had a return on equity of 22.82% and a net margin of 14.30%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.83 earnings per share. Sell-side analysts expect that PayPal Holdings, Inc. will post 4.42 earnings per share for the current year.

Institutional Investors Weigh In On PayPal

Several large investors have recently bought and sold shares of PYPL. International Assets Investment Management LLC increased its holdings in shares of PayPal by 11.1% in the 4th quarter. International Assets Investment Management LLC now owns 10,716 shares of the credit services provider’s stock valued at $658,000 after purchasing an additional 1,073 shares in the last quarter. Gryphon Financial Partners LLC boosted its position in shares of PayPal by 36.2% in the fourth quarter. Gryphon Financial Partners LLC now owns 9,659 shares of the credit services provider’s stock worth $593,000 after acquiring an additional 2,569 shares during the last quarter. Principal Securities Inc. acquired a new position in PayPal during the fourth quarter valued at approximately $418,000. AGF Management Ltd. acquired a new position in PayPal during the fourth quarter valued at approximately $200,000. Finally, Apexium Financial LP purchased a new stake in shares of PayPal during the fourth quarter valued at approximately $276,000. Hedge funds and other institutional investors own 68.32% of the company’s stock.

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.