Paypal (NASDAQ:PYPL) was upgraded by investment analysts at Canaccord Genuity from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Briefing.com Automated Import reports.
Other research analysts have also recently issued reports about the company. KeyCorp raised their target price on Paypal from $118.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Craig Hallum raised their target price on Paypal from $125.00 to $140.00 and gave the stock a “positive” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their target price on Paypal from $125.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Citigroup raised their target price on Paypal from $124.00 to $137.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Rosenblatt Securities assumed coverage on Paypal in a research report on Monday, August 19th. They issued a “buy” rating and a $126.00 target price on the stock. Eight research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $121.55.
Shares of NASDAQ:PYPL opened at $104.02 on Thursday. The stock has a market capitalization of $124.06 billion, a price-to-earnings ratio of 58.11, a PEG ratio of 2.43 and a beta of 0.98. The stock’s 50-day simple moving average is $108.18 and its two-hundred day simple moving average is $109.01. Paypal has a 52-week low of $74.66 and a 52-week high of $121.48.
Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.12. The business had revenue of $4.31 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The business’s revenue for the quarter was up 11.7% on a year-over-year basis. During the same period last year, the firm posted $0.58 earnings per share. As a group, equities analysts forecast that Paypal will post 2.41 earnings per share for the current year.
In related news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the transaction, the executive vice president now directly owns 15,041 shares of the company’s stock, valued at approximately $1,740,394.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $110.87, for a total value of $3,326,100.00. Following the completion of the transaction, the chief executive officer now directly owns 457,074 shares in the company, valued at $50,675,794.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 132,417 shares of company stock worth $14,511,700. 0.15% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. Nuveen Asset Management LLC lifted its holdings in Paypal by 6,747.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock worth $2,158,939,000 after purchasing an additional 18,586,493 shares in the last quarter. Invesco Ltd. increased its stake in Paypal by 37.9% in the 2nd quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock worth $2,353,030,000 after acquiring an additional 5,654,831 shares during the last quarter. FMR LLC increased its stake in Paypal by 3.8% in the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after acquiring an additional 3,002,568 shares during the last quarter. Vanguard Group Inc. increased its stake in Paypal by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after acquiring an additional 1,274,702 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Paypal in the 2nd quarter worth approximately $143,579,000. 81.01% of the stock is currently owned by institutional investors.
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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