PayPal (NASDAQ:PYPL) Stock Price Down 0.1% After Analyst Downgrade

Shares of PayPal Holdings, Inc. (NASDAQ:PYPL) dropped 0.1% on Thursday after Piper Sandler lowered their price target on the stock from $85.00 to $76.00. Piper Sandler currently has a neutral rating on the stock. PayPal traded as low as $71.26 and last traded at $71.97. Approximately 3,123,622 shares changed hands during trading, a decline of 73% from the average daily volume of 11,634,635 shares. The stock had previously closed at $72.05.

PYPL has been the topic of several other research reports. Susquehanna raised their price target on PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a report on Monday, January 6th. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 target price on the stock in a research note on Friday, December 13th. Citigroup reissued an “outperform” rating on shares of PayPal in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of PayPal in a report on Wednesday. Finally, Keefe, Bruyette & Woods boosted their price target on PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Fourteen research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and an average target price of $89.97.

Hedge Funds Weigh In On PayPal

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP lifted its holdings in PayPal by 11.4% during the 3rd quarter. Allworth Financial LP now owns 5,727 shares of the credit services provider’s stock valued at $447,000 after purchasing an additional 588 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of PayPal by 40.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 73,537 shares of the credit services provider’s stock valued at $5,738,000 after acquiring an additional 21,002 shares during the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of PayPal by 62.8% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 10,348 shares of the credit services provider’s stock worth $807,000 after acquiring an additional 3,991 shares in the last quarter. Hunter Associates Investment Management LLC acquired a new stake in PayPal during the 3rd quarter valued at $265,000. Finally, Pallas Capital Advisors LLC bought a new position in PayPal in the 3rd quarter valued at $723,000. 68.32% of the stock is owned by institutional investors and hedge funds.

PayPal Trading Down 0.1 %

The company has a market cap of $71.17 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The business has a 50 day simple moving average of $84.25 and a 200 day simple moving average of $80.96.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The firm had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same quarter last year, the company posted $1.48 EPS. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. As a group, equities analysts forecast that PayPal Holdings, Inc. will post 5.03 EPS for the current year.

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.