PayPal Holdings, Inc. (NASDAQ:PYPL) had its price target raised by Piper Jaffray Companies in a research note issued on Friday, July 14th. The brokerage currently has a “neutral” rating on the credit services provider’s stock.
A number of other brokerages also recently issued reports on PYPL. Credit Suisse Group reaffirmed an “outperform” rating and issued a $56.00 target price on shares of PayPal Holdings in a research note on Thursday, July 13th. Vetr downgraded PayPal Holdings from a “buy” rating to a “hold” rating and set a $56.88 target price for the company. in a research note on Monday, July 10th. Loop Capital reaffirmed a “hold” rating and issued a $49.00 target price on shares of PayPal Holdings in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $52.00 target price on shares of PayPal Holdings in a research note on Wednesday, July 5th. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $62.00 target price (up from $52.00) on shares of PayPal Holdings in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $59.49.
Shares of PayPal Holdings (NASDAQ:PYPL) opened at 58.04 on Friday. PayPal Holdings has a 52 week low of $36.30 and a 52 week high of $61.30. The stock has a market cap of $69.79 billion, a PE ratio of 46.81 and a beta of 0.99. The stock has a 50 day moving average of $57.01 and a 200-day moving average of $48.47.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating 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 $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the company earned $0.36 EPS. The firm’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings will post $1.84 earnings per share for the current fiscal year.
PayPal Holdings announced that its board has approved a share buyback program on Wednesday, April 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
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In other news, Director Gail J. Mcgovern sold 1,800 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $53.97, for a total value of $97,146.00. Following the sale, the director now directly owns 12,647 shares in the company, valued at $682,558.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the sale, the executive vice president now owns 37,491 shares in the company, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock worth $5,653,198 over the last 90 days. Company insiders own 6.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in PYPL. FMR LLC raised its position in PayPal Holdings by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after buying an additional 21,814,940 shares during the last quarter. Vanguard Group Inc. raised its position in PayPal Holdings by 2.8% in the second quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock valued at $4,173,311,000 after buying an additional 2,115,017 shares during the last quarter. BlackRock Inc. raised its position in PayPal Holdings by 4.7% in the second quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock valued at $3,377,936,000 after buying an additional 2,835,027 shares during the last quarter. Edgewood Management LLC raised its position in PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock valued at $798,817,000 after buying an additional 663,087 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock valued at $637,263,000 after buying an additional 1,982,305 shares during the last quarter. Hedge funds and other institutional investors own 81.31% of the company’s stock.
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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