Wall Street analysts expect that Paypal Holdings Inc (NASDAQ:PYPL) will announce sales of $3.67 billion for the current fiscal quarter, Zacks Investment Research reports. Twelve analysts have made estimates for Paypal’s earnings, with estimates ranging from $3.65 billion to $3.69 billion. Paypal posted sales of $3.24 billion in the same quarter last year, which suggests a positive year over year growth rate of 13.3%. The firm is scheduled to issue its next quarterly earnings report on Thursday, October 18th.
According to Zacks, analysts expect that Paypal will report full year sales of $15.47 billion for the current financial year, with estimates ranging from $15.37 billion to $15.93 billion. For the next fiscal year, analysts expect that the firm will post sales of $17.97 billion per share, with estimates ranging from $17.68 billion to $18.22 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Paypal.
Paypal (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 25th. The credit services provider reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.17. Paypal had a net margin of 14.02% and a return on equity of 12.91%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year.
A number of analysts recently weighed in on PYPL shares. Zacks Investment Research lowered shares of Paypal from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Credit Suisse Group upped their price objective on shares of Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a research note on Thursday, July 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Paypal in a research note on Wednesday, August 29th. Wells Fargo & Co upped their price objective on shares of Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a research note on Thursday, July 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $93.00 price objective on shares of Paypal in a research note on Friday, May 25th. Seven equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $89.54.
In other news, EVP Aaron Karczmer sold 10,330 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $911,312.60. Following the transaction, the executive vice president now owns 12,174 shares in the company, valued at $1,073,990.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Aaron Anderson sold 17,062 shares of the company’s stock in a transaction dated Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the transaction, the vice president now owns 9,921 shares in the company, valued at approximately $875,230.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 149,732 shares of company stock worth $13,044,257. Corporate insiders own 0.20% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of PYPL. Fundsmith Equity Fund L.P. acquired a new position in shares of Paypal during the second quarter valued at about $1,266,514,000. Third Point LLC acquired a new position in shares of Paypal during the second quarter valued at about $832,700,000. Fred Alger Management Inc. increased its holdings in shares of Paypal by 2,482.2% during the second quarter. Fred Alger Management Inc. now owns 2,401,884 shares of the credit services provider’s stock valued at $200,005,000 after acquiring an additional 2,308,867 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Paypal by 19.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,873,686 shares of the credit services provider’s stock valued at $655,643,000 after acquiring an additional 1,269,133 shares in the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Paypal by 15.0% during the second quarter. American Century Companies Inc. now owns 9,428,321 shares of the credit services provider’s stock valued at $785,096,000 after acquiring an additional 1,227,210 shares in the last quarter. Hedge funds and other institutional investors own 79.66% of the company’s stock.
NASDAQ:PYPL opened at $92.19 on Friday. Paypal has a 1-year low of $61.71 and a 1-year high of $93.70. The stock has a market capitalization of $108.22 billion, a P/E ratio of 66.58, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30.
Paypal Company Profile
PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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