PayPal Holdings, Inc. (PYPL) Upgraded at Zacks Investment Research
PayPal Holdings, Inc. (NASDAQ:PYPL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $80.00 price objective on the credit services provider’s stock. Zacks Investment Research‘s price target indicates a potential upside of 12.64% from the stock’s current price.
According to Zacks, “PayPal is a worldwide online payments system operator. The company delivered strong third-quarter 2017 results, surpassing the Zacks Consensus Estimate on both counts. The results were driven by continued strong performance in global payments, both online and mobile. Currently, the company is riding high on partnerships and mobile centrism. PayPal’s ongoing strategic partnerships with Visa and MasterCard offer great flexibility and choice to consumers. Partnerships with Google, Facebook, Pinterest, Alibaba, Intuit and other major retailers and financial institutions are also delivering positive results. However, continuous exposure to foreign exchange and interest rate risks are concerns. Year to date, the stock has outperformed the industry it belongs to.”
A number of other equities analysts also recently issued reports on PYPL. Vetr raised shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $55.01 price objective on the stock in a report on Tuesday, July 4th. Oppenheimer Holdings, Inc. lifted their target price on PayPal Holdings from $50.00 to $65.00 and gave the stock an “outperform” rating in a research note on Thursday, July 27th. Wells Fargo & Company boosted their price objective on PayPal Holdings from $65.00 to $70.00 and gave the company a “market perform” rating in a research note on Friday, October 20th. Cowen and Company restated a “market perform” rating and issued a $52.00 price objective (up from $48.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research note on Wednesday, July 5th. Nine research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $69.77.
Shares of PayPal Holdings (PYPL) traded up 0.65% on Thursday, reaching $71.48. 4,160,290 shares of the company were exchanged. The company’s 50-day moving average price is $65.42 and its 200 day moving average price is $65.42. PayPal Holdings has a 12 month low of $38.06 and a 12 month high of $72.07. The company has a market cap of $85.95 billion, a price-to-earnings ratio of 57.65 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.69% and a return on equity of 11.33%. The company had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the firm posted $0.35 EPS. The company’s quarterly revenue was up 21.4% on a year-over-year basis. On average, equities research analysts expect that PayPal Holdings will post $1.87 EPS for the current year.
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In related news, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total transaction of $79,709.00. Following the completion of the transaction, the executive vice president now owns 37,492 shares in the company, valued at approximately $2,212,028. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John J. Donahoe sold 170,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 124,516 shares of the company’s stock, valued at approximately $7,244,340.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 261,351 shares of company stock valued at $15,302,809. Company insiders own 6.00% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Feltz Wealth PLAN Inc. purchased a new position in PayPal Holdings during the 2nd quarter valued at $100,000. Winslow Evans & Crocker Inc. boosted its holdings in PayPal Holdings by 3.5% during the 3rd quarter. Winslow Evans & Crocker Inc. now owns 2,438 shares of the credit services provider’s stock valued at $100,000 after acquiring an additional 82 shares during the period. Thompson Davis & CO. Inc. boosted its holdings in PayPal Holdings by 36.7% during the 1st quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after acquiring an additional 649 shares during the period. Crestwood Advisors Group LLC purchased a new position in PayPal Holdings during the 1st quarter valued at $106,000. Finally, Carroll Financial Associates Inc. boosted its holdings in PayPal Holdings by 41.7% during the 1st quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 740 shares during the period. Institutional investors own 82.18% of the company’s stock.
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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