PayPal Holdings, Inc. (PYPL) Rating Lowered to Hold at Zacks Investment Research
PayPal Holdings, Inc. (NASDAQ:PYPL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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.”
Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reissued a “buy” rating and set a $52.00 price target on shares of PayPal Holdings in a report on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and set a $61.00 price target on shares of PayPal Holdings in a report on Friday, July 14th. Deutsche Bank AG reissued a “buy” rating and set a $61.00 price target (up previously from $52.00) on shares of PayPal Holdings in a report on Tuesday, July 18th. BTIG Research reissued a “buy” rating and set a $63.00 price target on shares of PayPal Holdings in a report on Monday, July 24th. Finally, Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $60.76 price target on the stock in a report on Tuesday, July 25th. Ten equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the stock. PayPal Holdings currently has an average rating of “Buy” and an average price target of $69.85.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the company posted $0.35 earnings per share. The business’s revenue was up 21.4% on a year-over-year basis.
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In other news, 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 transaction of $9,890,600.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in PYPL. Feltz Wealth PLAN Inc. purchased a new stake in shares of PayPal Holdings during the 2nd quarter valued at $100,000. Winslow Evans & Crocker Inc. grew its stake in shares of 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 buying an additional 82 shares during the period. Thompson Davis & CO. Inc. grew its stake in shares of 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 buying an additional 649 shares during the period. Crestwood Advisors Group LLC purchased a new stake in shares of PayPal Holdings during the 1st quarter valued at $106,000. Finally, Carroll Financial Associates Inc. grew its stake in shares of 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 buying an additional 740 shares during the period. 82.35% of the stock is owned by institutional investors.
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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