PayPal Holdings, Inc. (NASDAQ:PYPL) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued on Tuesday, July 4th. The firm currently has a $55.01 price target on the credit services provider’s stock. Vetr‘s price objective indicates a potential downside of 7.08% from the stock’s current price.
Several other brokerages have also commented on PYPL. Citigroup Inc. reiterated a “buy” rating and set a $62.00 price target (up from $52.00) on shares of PayPal Holdings in a research note on Friday, June 9th. BMO Capital Markets lifted their price objective on shares of PayPal Holdings from $52.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, June 9th. BTIG Research lifted their price objective on shares of PayPal Holdings from $53.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, June 26th. Wedbush restated an “outperform” rating on shares of PayPal Holdings in a research note on Tuesday, June 6th. Finally, Instinet lifted their price objective on shares of PayPal Holdings from $54.00 to $57.00 and gave the company a “buy” rating in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $59.49.
PayPal Holdings (NASDAQ:PYPL) traded down 1.58% during midday trading on Tuesday, reaching $59.20. 10,800,785 shares of the company’s stock traded hands. PayPal Holdings has a 1-year low of $36.28 and a 1-year high of $61.30. The company has a market capitalization of $71.16 billion, a PE ratio of 47.74 and a beta of 0.95. The firm’s 50 day moving average price is $55.22 and its 200-day moving average price is $47.26.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The firm had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same period last year, the business earned $0.36 EPS. PayPal Holdings’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities analysts expect that PayPal Holdings will post $1.83 EPS for the current year.
PayPal Holdings declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
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In related news, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gail J. Mcgovern sold 1,800 shares of the company’s stock in a transaction that occurred on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total transaction of $97,146.00. Following the transaction, the director now directly owns 12,647 shares of the company’s stock, valued at approximately $682,558.59. The disclosure for this sale can be found here. Insiders have sold 4,501 shares of company stock valued at $240,989 in the last ninety days. 6.00% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Thompson Davis & CO. Inc. increased its stake in PayPal Holdings by 36.7% in the first 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 in the last quarter. Crestwood Advisors Group LLC acquired a new stake in PayPal Holdings during the first quarter valued at about $106,000. Carroll Financial Associates Inc. increased its stake in PayPal Holdings by 41.7% in the first 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 in the last quarter. Stelac Advisory Services LLC acquired a new stake in PayPal Holdings during the first quarter valued at about $119,000. Finally, West Oak Capital LLC increased its stake in PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock valued at $123,000 after buying an additional 550 shares in the last quarter. Institutional investors own 81.55% 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.
To view Vetr’s full report, visit Vetr’s official website.
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