Evercore ISI Begins Coverage on Paypal Holdings Inc. (PYPL)
Equities research analysts at Evercore ISI started coverage on shares of Paypal Holdings Inc. (NASDAQ:PYPL) in a report released on Tuesday. The brokerage set a “buy” rating and a $46.00 price target on the stock. Evercore ISI’s price objective would indicate a potential upside of 16.51% from the stock’s previous close.
A number of other brokerages have also recently issued reports on PYPL. Barclays PLC decreased their price objective on shares of Paypal Holdings from $46.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, July 7th. Vetr upgraded shares of Paypal Holdings from a “hold” rating to a “buy” rating and set a $40.93 price objective for the company in a report on Monday, July 25th. Royal Bank Of Canada restated a “buy” rating on shares of Paypal Holdings in a report on Tuesday, July 12th. Wedbush restated an “outperform” rating and set a $50.00 price objective on shares of Paypal Holdings in a report on Friday, September 23rd. Finally, SunTrust Banks Inc. restated a “buy” rating and set a $45.00 price objective on shares of Paypal Holdings in a report on Wednesday, October 12th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paypal Holdings currently has a consensus rating of “Buy” and a consensus target price of $44.73.
Paypal Holdings (NASDAQ:PYPL) opened at 39.48 on Tuesday. Paypal Holdings has a 52 week low of $30.52 and a 52 week high of $41.75. The stock’s 50 day moving average is $39.46 and its 200 day moving average is $38.45. The firm has a market cap of $46.67 billion, a price-to-earnings ratio of 35.89 and a beta of 1.09.
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Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.36. The firm earned $2.65 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. During the same quarter in the previous year, the company earned $0.32 earnings per share. Equities research analysts expect that Paypal Holdings will post $1.50 EPS for the current year.
In related news, SVP Tomer Barel sold 5,862 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $37.21, for a total transaction of $218,125.02. Following the completion of the transaction, the senior vice president now owns 27,017 shares in the company, valued at $1,005,302.57. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gary J. Marino sold 1,726 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $40.87, for a total value of $70,541.62. Following the transaction, the executive vice president now owns 44,505 shares of the company’s stock, valued at approximately $1,818,919.35. The disclosure for this sale can be found here. Corporate insiders own 7.00% of the company’s stock.
Several institutional investors have recently made changes to their positions in PYPL. Franklin Resources Inc. increased its position in shares of Paypal Holdings by 6.1% in the first quarter. Franklin Resources Inc. now owns 520,448 shares of the company’s stock worth $20,089,000 after buying an additional 29,963 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Paypal Holdings by 70.5% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 12,692 shares of the company’s stock worth $490,000 after buying an additional 5,250 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Paypal Holdings by 1,884,000.0% in the first quarter. Canada Pension Plan Investment Board now owns 188,410 shares of the company’s stock worth $7,273,000 after buying an additional 188,400 shares in the last quarter. BB&T Securities LLC acquired a new position in shares of Paypal Holdings during the first quarter worth approximately $3,529,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Paypal Holdings by 33.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 72,672 shares of the company’s stock worth $2,806,000 after buying an additional 18,378 shares in the last quarter. Institutional investors own 78.60% of the company’s stock.
About Paypal Holdings
PayPal Holdings, Inc (PayPal) is a technology platform company that enables digital and mobile payments on behalf of consumers and merchants across the world. The Company allows businesses of all sizes to accept payments from merchant Websites, mobile devices and applications, and at offline retail locations through a range of payment solutions.
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