PayPal (NASDAQ:PYPL) Stock Price Down 0.2%

PayPal Holdings, Inc. (NASDAQ:PYPL)’s share price dropped 0.2% during mid-day trading on Thursday . The stock traded as low as $62.83 and last traded at $63.12. Approximately 1,962,827 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 16,525,410 shares. The stock had previously closed at $63.26.

Wall Street Analyst Weigh In

PYPL has been the topic of several recent analyst reports. Citigroup cut their price objective on PayPal from $76.00 to $73.00 and set a “buy” rating on the stock in a report on Thursday, February 8th. BTIG Research restated a “neutral” rating on shares of PayPal in a report on Friday, January 5th. Oppenheimer reaffirmed a “market perform” rating on shares of PayPal in a research note on Thursday, January 25th. Sanford C. Bernstein lifted their price target on PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research note on Thursday. Finally, Evercore ISI boosted their price target on PayPal from $56.00 to $60.00 and gave the company an “in-line” rating in a report on Tuesday, March 26th. Twenty-three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $70.47.

PayPal Stock Performance

The stock has a market cap of $65.59 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 1.41 and a beta of 1.45. The stock has a 50 day simple moving average of $62.34 and a 200 day simple moving average of $59.93. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, February 7th. The credit services provider reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.12. The business had revenue of $8.03 billion for the quarter, compared to analyst estimates of $7.88 billion. PayPal had a net margin of 14.26% and a return on equity of 20.84%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, equities analysts expect that PayPal Holdings, Inc. will post 3.93 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Frank Keller sold 7,686 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $60.64, for a total value of $466,079.04. Following the sale, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

A number of hedge funds have recently made changes to their positions in PYPL. State Street Corp boosted its position in PayPal by 2.7% in the first quarter. State Street Corp now owns 45,423,344 shares of the credit services provider’s stock valued at $3,449,434,000 after buying an additional 1,202,956 shares in the last quarter. Geode Capital Management LLC increased its holdings in PayPal by 1.1% in the 1st quarter. Geode Capital Management LLC now owns 20,947,345 shares of the credit services provider’s stock worth $1,586,966,000 after purchasing an additional 235,651 shares in the last quarter. Morgan Stanley raised its position in PayPal by 4.5% in the third quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in PayPal by 110,462.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 17,136,071 shares of the credit services provider’s stock worth $1,220,431,000 after buying an additional 17,120,572 shares during the period. Finally, Norges Bank bought a new stake in PayPal during the 4th quarter worth approximately $1,022,333,000. 68.32% of the stock is currently owned by institutional investors and hedge funds.

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.