PayPal (NASDAQ:PYPL) Shares Down 4.7% – Here’s Why

PayPal Holdings, Inc. (NASDAQ:PYPL) shares were down 4.7% on Tuesday . The company traded as low as $66.41 and last traded at $66.46. Approximately 6,631,021 shares were traded during trading, a decline of 44% from the average daily volume of 11,852,394 shares. The stock had previously closed at $69.75.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PYPL shares. Keefe, Bruyette & Woods boosted their price target on shares of PayPal from $92.00 to $104.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Citigroup reissued an “outperform” rating on shares of PayPal in a research note on Wednesday, February 5th. Robert W. Baird dropped their price target on shares of PayPal from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. DZ Bank raised shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $100.00 price target on shares of PayPal in a research note on Thursday, December 12th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $90.03.

PayPal Trading Down 3.3 %

The business’s 50 day moving average price is $83.27 and its two-hundred day moving average price is $81.17. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $66.75 billion, a price-to-earnings ratio of 16.83, a P/E/G ratio of 1.27 and a beta of 1.44.

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

Insider Buying and Selling

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This trade represents a 7.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PayPal

Several hedge funds have recently added to or reduced their stakes in PYPL. Mpwm Advisory Solutions LLC acquired a new stake in PayPal during the 4th quarter worth approximately $25,000. Gordian Capital Singapore Pte Ltd bought a new position in PayPal during the 3rd quarter worth approximately $26,000. Rosenberg Matthew Hamilton raised its holdings in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Hurley Capital LLC bought a new position in PayPal during the 4th quarter worth approximately $27,000. Finally, Sugarloaf Wealth Management LLC raised its holdings in PayPal by 344.3% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares during the last quarter. 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.