Barclays PLC Raises PayPal Holdings, Inc. (PYPL) Price Target to $69.00
PayPal Holdings, Inc. (NASDAQ:PYPL) had its price objective hoisted by analysts at Barclays PLC from $66.00 to $69.00 in a research note issued on Friday. The firm currently has an “overweight” rating on the credit services provider’s stock. Barclays PLC’s price objective would indicate a potential upside of 10.86% from the company’s current price.
Several other research firms also recently weighed in on PYPL. Sanford C. Bernstein upgraded shares of PayPal Holdings from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $46.00 to $61.00 in a research report on Monday, July 10th. Stephens restated an “overweight” rating and set a $59.00 price target (up previously from $51.00) on shares of PayPal Holdings in a research report on Monday, June 19th. Loop Capital restated a “hold” rating and set a $49.00 price target on shares of PayPal Holdings in a research report on Wednesday, July 12th. Royal Bank Of Canada restated a “buy” rating and set a $65.00 price target on shares of PayPal Holdings in a research report on Tuesday, August 29th. Finally, Vetr upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price target for the company in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.00.
Shares of PayPal Holdings (NASDAQ:PYPL) traded up 0.53% during midday trading on Friday, hitting $62.57. The stock had a trading volume of 4,928,538 shares. PayPal Holdings has a 52-week low of $38.06 and a 52-week high of $63.26. The firm has a 50 day moving average price of $62.37 and a 200-day moving average price of $51.37. The stock has a market cap of $75.23 billion, a PE ratio of 50.46 and a beta of 0.98. PayPal Holdings also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 3,225 call options on the stock. This represents an increase of approximately 657% compared to the typical volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts predict that PayPal Holdings will post $1.84 EPS for the current fiscal year.
In other PayPal Holdings news, Director John J. Donahoe sold 170,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares of the company’s stock, valued at approximately $7,244,340.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. Insiders sold a total of 262,702 shares of company stock valued at $15,375,804 in the last three months. 6.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. W. E. Donoghue & Co. LLC purchased a new position in PayPal Holdings in the 2nd quarter valued at approximately $2,239,000. Gs Investments Inc. purchased a new position in PayPal Holdings in the 2nd quarter valued at approximately $1,312,000. Lord Abbett & CO. LLC boosted its position in PayPal Holdings by 71.6% in the 2nd quarter. Lord Abbett & CO. LLC now owns 902,004 shares of the credit services provider’s stock valued at $48,411,000 after buying an additional 376,471 shares during the period. Sentry Investment Management LLC boosted its position in PayPal Holdings by 1.1% in the 2nd quarter. Sentry Investment Management LLC now owns 89,297 shares of the credit services provider’s stock valued at $4,793,000 after buying an additional 977 shares during the period. Finally, Atlantic Trust LLC boosted its position in PayPal Holdings by 1,140.8% in the 2nd quarter. Atlantic Trust LLC now owns 32,260 shares of the credit services provider’s stock valued at $1,732,000 after buying an additional 29,660 shares during the period. 82.55% of the stock is owned by institutional investors.
PayPal Holdings Company Profile
PayPal Holdings, Inc is a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants. The Company’s combined payment solutions, including its PayPal, PayPal Credit, Braintree, Venmo, Xoom and Paydiant products, compose its Payments Platform.
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