Zacks Investment Research upgraded shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a hold rating to a buy rating in a report issued on Thursday morning. They currently have $80.00 price objective on the credit services provider’s stock.
According to Zacks, “PayPal is a worldwide online payments system operator. The company delivered strong third-quarter 2017 results, surpassing the Zacks Consensus Estimate on both counts. The results were driven by continued strong performance in global payments, both online and mobile. Currently, the company is riding high on partnerships and mobile centrism. PayPal’s ongoing strategic partnerships with Visa and MasterCard offer great flexibility and choice to consumers. Partnerships with Google, Facebook, Pinterest, Alibaba, Intuit and other major retailers and financial institutions are also delivering positive results. However, continuous exposure to foreign exchange and interest rate risks are concerns. Year to date, the stock has outperformed the industry it belongs to.”
A number of other research firms also recently issued reports on PYPL. Credit Suisse Group restated an outperform rating and set a $70.00 price target (up previously from $63.00) on shares of PayPal Holdings in a research note on Tuesday, October 10th. Sanford C. Bernstein upgraded PayPal Holdings from a market perform rating to an outperform rating and raised their price target for the stock from $46.00 to $61.00 in a research note on Monday, July 10th. Mizuho restated a hold rating and set a $50.00 price target on shares of PayPal Holdings in a research note on Sunday, October 15th. Loop Capital restated a hold rating and set a $49.00 price target on shares of PayPal Holdings in a research note on Wednesday, July 12th. Finally, Citigroup Inc. raised their price target on PayPal Holdings to $77.00 and gave the stock a buy rating in a research note on Tuesday, October 3rd. Nine investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have given a strong buy rating to the stock. PayPal Holdings has a consensus rating of Buy and an average target price of $69.77.
Shares of PayPal Holdings (NASDAQ:PYPL) traded up 0.134% during midday trading on Thursday, hitting $71.155. The stock had a trading volume of 4,986,063 shares. The stock has a market cap of $85.56 billion, a PE ratio of 57.383 and a beta of 0.98. PayPal Holdings has a one year low of $38.06 and a one year high of $72.07. The firm has a 50 day moving average price of $65.74 and a 200 day moving average price of $65.74.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. PayPal Holdings had a return on equity of 11.33% and a net margin of 12.69%. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. On average, equities analysts forecast that PayPal Holdings will post $1.87 earnings per share for the current fiscal year.
In other news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $59.00, for a total value of $79,709.00. Following the completion of the sale, the executive vice president now owns 37,492 shares of the company’s stock, valued at $2,212,028. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John J. Donahoe sold 170,000 shares of PayPal Holdings stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the completion of the sale, the director now directly owns 124,516 shares of the company’s stock, valued at approximately $7,244,340.88. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Large investors have recently made changes to their positions in the company. Stelac Advisory Services LLC purchased a new stake in shares of PayPal Holdings in the first quarter valued at $119,000. Kistler Tiffany Companies LLC grew its position in shares of PayPal Holdings by 511.9% in the third quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after purchasing an additional 1,684 shares during the period. Archford Capital Strategies LLC grew its position in shares of PayPal Holdings by 65.4% in the first quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after purchasing an additional 1,281 shares during the period. Balentine LLC grew its position in shares of PayPal Holdings by 28.7% in the first quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after purchasing an additional 780 shares during the period. Finally, Harvest Fund Management Co. Ltd grew its position in shares of PayPal Holdings by 171.4% in the second quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after purchasing an additional 1,808 shares during the period. 82.35% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
What are top analysts saying about PayPal Holdings Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for PayPal Holdings Inc. and related companies.