PayPal Holdings, Inc. (NASDAQ:PYPL)‘s stock had its “buy” rating reissued by Cantor Fitzgerald in a research report issued on Friday. They currently have a $79.00 price objective on the credit services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 17.47% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Citigroup Inc. reaffirmed a “buy” rating and set a $67.00 price target (up from $62.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Mizuho reaffirmed a “neutral” rating and set a $48.00 price target on shares of PayPal Holdings in a report on Wednesday, June 28th. Nomura increased their price target on PayPal Holdings from $57.00 to $68.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $52.00 price target on shares of PayPal Holdings in a report on Wednesday, July 5th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $68.00 price target (up from $61.00) on shares of PayPal Holdings in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company. PayPal Holdings currently has a consensus rating of “Buy” and an average price target of $69.07.
PayPal Holdings (NASDAQ PYPL) traded up 4.64% during trading on Friday, hitting $70.37. 26,311,531 shares of the stock traded hands. The stock has a market cap of $84.61 billion, a P/E ratio of 56.75 and a beta of 0.98. The firm’s 50-day moving average is $64.75 and its 200-day moving average is $64.75. PayPal Holdings has a 12 month low of $38.06 and a 12 month high of $71.73.
PayPal Holdings (NASDAQ:PYPL) last issued its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm had revenue of $3.24 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same period last year, the company earned $0.35 earnings per share. The company’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, analysts forecast that PayPal Holdings will post $1.84 EPS for the current year.
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In other news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the transaction, the executive vice president now directly owns 37,492 shares of the company’s stock, valued at approximately $2,212,028. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Insiders sold a total of 261,351 shares of company stock worth $15,302,809 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in shares of PayPal Holdings by 0.9% in the 2nd quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after purchasing an additional 17,139 shares in the last quarter. Shikiar Asset Management Inc. lifted its stake in shares of PayPal Holdings by 2,671.9% in the 2nd quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after purchasing an additional 136,265 shares in the last quarter. Smith Asset Management Group LP acquired a new position in shares of PayPal Holdings in the 2nd quarter valued at about $50,648,000. Fundsmith LLP lifted its stake in shares of PayPal Holdings by 6.8% in the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after purchasing an additional 889,976 shares in the last quarter. Finally, GAM Holding AG lifted its stake in shares of PayPal Holdings by 14.3% in the 2nd quarter. GAM Holding AG now owns 225,782 shares of the credit services provider’s stock valued at $12,118,000 after purchasing an additional 28,265 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors and hedge funds.
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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