Loop Capital Increases PayPal Holdings, Inc. (PYPL) Price Target to $67.00
PayPal Holdings, Inc. (NASDAQ:PYPL) had its target price hoisted by equities research analysts at Loop Capital from $57.00 to $67.00 in a research report issued to clients and investors on Friday. The brokerage currently has a “hold” rating on the credit services provider’s stock. Loop Capital’s price target points to a potential downside of 0.37% from the company’s current price.
PYPL has been the topic of several other research reports. BidaskClub raised PayPal Holdings from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. Morgan Stanley raised PayPal Holdings from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $62.00 to $76.00 in a report on Wednesday, October 11th. Bank of America Corporation reaffirmed a “buy” rating and set a $78.00 price objective (up previously from $71.00) on shares of PayPal Holdings in a report on Friday, October 6th. Robert W. Baird reaffirmed an “outperform” rating and set a $65.00 price objective (up previously from $59.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of PayPal Holdings in a report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. PayPal Holdings presently has a consensus rating of “Buy” and a consensus price target of $67.58.
Shares of PayPal Holdings (PYPL) opened at 67.25 on Friday. The firm’s 50-day moving average price is $64.75 and its 200-day moving average price is $64.75. The firm has a market cap of $80.86 billion, a PE ratio of 54.23 and a beta of 0.98. PayPal Holdings has a 12 month low of $38.06 and a 12 month high of $69.61.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.03. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Analysts expect that PayPal Holdings will post $1.84 earnings per share for the current year.
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In other 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 transaction of $9,890,600.00. Following the completion of the transaction, the director now directly 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 SEC, which is available at the SEC website. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at $1,733,181. The disclosure for this sale can be found here. Over the last three months, insiders have sold 261,351 shares of company stock valued at $15,302,809. Corporate insiders own 6.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Terra Nova Asset Management purchased a new position in shares of PayPal Holdings during the 3rd quarter worth approximately $1,576,000. Hutchens Investment Management Inc purchased a new position in shares of PayPal Holdings during the 4th quarter worth approximately $1,950,000. Artemis Investment Management LLP increased its stake in shares of PayPal Holdings by 60.6% during the 2nd quarter. Artemis Investment Management LLP now owns 342,141 shares of the credit services provider’s stock worth $12,495,000 after purchasing an additional 129,047 shares in the last quarter. Janus Capital Management purchased a new position in shares of PayPal Holdings during the 3rd quarter worth approximately $7,244,000. Finally, Dowling & Yahnke LLC purchased a new position in shares of PayPal Holdings during the 4th quarter worth approximately $2,303,000. 82.47% of the stock is owned by institutional investors and hedge funds.
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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