Paypal (NASDAQ:PYPL) Lifted to Buy at Canaccord Genuity

Canaccord Genuity upgraded shares of Paypal (NASDAQ:PYPL) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. Canaccord Genuity currently has $118.00 price objective on the credit services provider’s stock, up from their prior price objective of $110.00.

Several other equities analysts have also recently weighed in on the company. Deutsche Bank lifted their price target on Paypal from $120.00 to $127.00 and gave the company a positive rating in a research report on Tuesday, July 16th. Morgan Stanley lifted their price target on Paypal from $114.00 to $129.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Citigroup lifted their price target on Paypal from $124.00 to $137.00 and gave the company a buy rating in a research report on Monday, September 9th. Rosenblatt Securities initiated coverage on Paypal in a research report on Monday, August 19th. They issued a buy rating and a $126.00 price target for the company. Finally, Berenberg Bank reiterated a buy rating and issued a $125.00 price target on shares of Paypal in a research report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Paypal presently has a consensus rating of Buy and an average price target of $122.17.

NASDAQ:PYPL opened at $107.00 on Thursday. The business has a fifty day simple moving average of $107.90 and a two-hundred day simple moving average of $109.06. Paypal has a 1 year low of $74.66 and a 1 year high of $121.48. The company has a market capitalization of $126.02 billion, a P/E ratio of 48.46, a P/E/G ratio of 2.47 and a beta of 0.98.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.12. The company had revenue of $4.31 billion during 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 firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. Analysts forecast that Paypal will post 2.41 EPS for the current year.

In related news, EVP Aaron Karczmer sold 3,110 shares of Paypal stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total transaction of $359,858.10. Following the completion of the sale, the executive vice president now owns 15,041 shares of the company’s stock, valued at $1,740,394.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel H. Schulman sold 30,000 shares of Paypal stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.96, for a total value of $3,358,800.00. Following the sale, the insider now directly owns 487,074 shares of the company’s stock, valued at approximately $54,532,805.04. The disclosure for this sale can be found here. Insiders have sold 132,417 shares of company stock valued at $14,511,700 in the last three months. 0.15% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of PYPL. Nuveen Asset Management LLC lifted its stake in Paypal by 6,747.4% during the second 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 during the last quarter. Invesco Ltd. lifted its stake in Paypal by 37.9% during the second quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock worth $2,353,030,000 after purchasing an additional 5,654,831 shares during the last quarter. FMR LLC lifted its stake in Paypal by 3.8% during the first quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after purchasing an additional 3,002,568 shares during the last quarter. Vanguard Group Inc. lifted its stake in Paypal by 1.5% during the second quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after purchasing an additional 1,274,702 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd bought a new stake in Paypal during the second quarter worth about $143,579,000. 81.01% of the stock is owned by institutional investors.

Paypal Company Profile

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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Analyst Recommendations for Paypal (NASDAQ:PYPL)

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