Paypal (NASDAQ:PYPL) Given “Buy” Rating at Bank of America

Bank of America restated their buy rating on shares of Paypal (NASDAQ:PYPL) in a report released on Friday morning, BenzingaRatingsTable reports. Bank of America currently has a $127.00 target price on the credit services provider’s stock, down from their prior target price of $131.00.

A number of other equities research analysts have also commented on PYPL. Oppenheimer raised their price objective on Paypal from $116.00 to $125.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Guggenheim upgraded Paypal from a sell rating to a neutral rating in a research report on Tuesday, August 13th. BTIG Research set a $130.00 price objective on Paypal and gave the stock a buy rating in a research report on Wednesday, July 24th. Citigroup raised their price objective on Paypal from $124.00 to $137.00 and gave the stock a buy rating in a research report on Monday, September 9th. Finally, Berenberg Bank restated a buy rating and set a $125.00 price objective on shares of Paypal in a research report on Friday, July 26th. Eight investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $122.17.

Shares of NASDAQ PYPL opened at $106.52 on Friday. Paypal has a one year low of $74.66 and a one year high of $121.48. The firm has a market capitalization of $126.02 billion, a PE ratio of 59.51, a PEG ratio of 2.47 and a beta of 0.98. The business has a 50-day moving average price of $107.36 and a two-hundred day moving average price of $109.22.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The firm had revenue of $4.31 billion during the quarter, compared to analyst estimates of $4.33 billion. During the same period last year, the company posted $0.58 EPS. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Paypal will post 2.41 EPS for the current fiscal year.

In related news, CFO John D. Rainey sold 7,283 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $107.23, for a total value of $780,956.09. Following the completion of the sale, the chief financial officer now directly owns 115,128 shares in the company, valued at approximately $12,345,175.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $110.87, for a total value of $3,326,100.00. Following the completion of the sale, the chief executive officer now owns 457,074 shares of the company’s stock, valued at $50,675,794.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 132,417 shares of company stock valued at $14,511,700. Corporate insiders own 0.15% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of PYPL. Janney Montgomery Scott LLC lifted its holdings in Paypal by 3.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 309,150 shares of the credit services provider’s stock worth $32,102,000 after purchasing an additional 10,085 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in Paypal by 6.7% in the 1st quarter. Cullen Frost Bankers Inc. now owns 296,716 shares of the credit services provider’s stock worth $30,767,000 after buying an additional 18,594 shares during the period. Steward Partners Investment Advisory LLC increased its position in Paypal by 1.0% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 73,236 shares of the credit services provider’s stock worth $7,604,000 after buying an additional 695 shares during the period. Renaissance Group LLC increased its position in Paypal by 2.2% in the 1st quarter. Renaissance Group LLC now owns 284,269 shares of the credit services provider’s stock worth $29,518,000 after buying an additional 6,084 shares during the period. Finally, First Republic Investment Management Inc. increased its position in Paypal by 36.5% in the 1st quarter. First Republic Investment Management Inc. now owns 518,271 shares of the credit services provider’s stock worth $53,817,000 after buying an additional 138,543 shares during the period. Hedge funds and other institutional investors own 80.51% of the company’s stock.

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.

See Also: P/E Growth (PEG)

Analyst Recommendations for Paypal (NASDAQ:PYPL)

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