PayPal Holdings’ (PYPL) Buy Rating Reiterated at Bank of America Corporation
PayPal Holdings, Inc. (NASDAQ:PYPL)‘s stock had its “buy” rating reissued by equities researchers at Bank of America Corporation in a report issued on Friday. They currently have a $78.00 price target on the credit services provider’s stock, up from their previous price target of $71.00. Bank of America Corporation’s price objective would suggest a potential upside of 18.51% from the stock’s current price.
Several other research firms also recently commented on PYPL. Citigroup Inc. increased their price objective on PayPal Holdings to $77.00 and gave the company a “buy” rating in a report on Tuesday. Deutsche Bank AG reissued a “buy” rating and issued a $77.00 price objective (up previously from $64.00) on shares of PayPal Holdings in a report on Tuesday. Buckingham Research assumed coverage on PayPal Holdings in a report on Monday. They set a “buy” rating and a $74.00 price target for the company. Guggenheim reaffirmed a “buy” rating and set a $72.00 price target (up previously from $67.00) on shares of PayPal Holdings in a report on Thursday. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price target on shares of PayPal Holdings in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings currently has a consensus rating of “Buy” and a consensus price target of $62.83.
Shares of PayPal Holdings (PYPL) traded up 0.190% during trading on Friday, reaching $65.945. 3,516,077 shares of the company were exchanged. PayPal Holdings has a one year low of $38.06 and a one year high of $66.41. The stock has a market capitalization of $79.29 billion, a price-to-earnings ratio of 53.181 and a beta of 0.98. The company has a 50 day moving average price of $63.51 and a 200-day moving average price of $63.51.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.36 EPS. Equities analysts predict that PayPal Holdings will post $1.84 EPS for the current year.
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In other news, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the sale, the chief operating officer now directly owns 29,252 shares in the company, valued at $1,733,181. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the sale, the executive vice president now owns 37,492 shares in the company, valued at $2,212,028. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 261,351 shares of company stock worth $15,302,809. Company insiders own 6.00% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of PayPal Holdings by 36.1% during the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock worth $4,415,371,000 after purchasing an additional 21,814,940 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of PayPal Holdings by 2.8% during the second quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock worth $4,173,311,000 after purchasing an additional 2,115,017 shares during the last quarter. BlackRock Inc. grew its holdings in shares of PayPal Holdings by 4.7% during the second quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock worth $3,377,936,000 after purchasing an additional 2,835,027 shares during the last quarter. Edgewood Management LLC grew its holdings in shares of PayPal Holdings by 3.7% during the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after purchasing an additional 663,087 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of PayPal Holdings by 15.4% during the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after purchasing an additional 1,982,305 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
About PayPal Holdings
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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