Zacks Investment Research downgraded shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a buy rating to a hold rating in a report issued on Thursday, November 2nd.
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.”
PYPL has been the topic of several other research reports. Barclays PLC boosted their price target on shares of PayPal Holdings from $75.00 to $78.00 and gave the company an overweight rating in a research report on Friday, October 20th. Credit Suisse Group reissued an outperform rating on shares of PayPal Holdings in a research report on Tuesday, September 5th. Vetr upgraded shares of PayPal Holdings from a hold rating to a buy rating and set a $73.32 target price on the stock in a research note on Tuesday, October 24th. Citigroup Inc. upped their target price on shares of PayPal Holdings to $77.00 and gave the stock a buy rating in a research note on Tuesday, October 3rd. Finally, Jefferies Group LLC restated a buy rating and set a $61.27 target price (down from $70.00) on shares of PayPal Holdings in a research note on Wednesday, September 6th. Ten analysts have rated the stock with a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $69.85.
Shares of PayPal Holdings (PYPL) traded up $0.46 during trading on Thursday, hitting $74.49. 6,281,400 shares of the stock were exchanged, compared to its average volume of 7,601,970. PayPal Holdings has a 52-week low of $38.06 and a 52-week high of $75.45. The stock has a market cap of $88,977.40, a P/E ratio of 52.88, a P/E/G ratio of 3.08 and a beta of 1.03.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.69% and a return on equity of 11.33%. The business had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the business posted $0.35 EPS. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. analysts predict that PayPal Holdings will post 1.37 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC raised its position in PayPal Holdings by 12.3% during the third quarter. Neuberger Berman Group LLC now owns 2,975,786 shares of the credit services provider’s stock valued at $190,540,000 after buying an additional 325,922 shares during the period. Griffin Asset Management Inc. acquired a new position in PayPal Holdings during the third quarter valued at $1,992,000. Piedmont Investment Advisors LLC raised its position in PayPal Holdings by 1.1% during the third quarter. Piedmont Investment Advisors LLC now owns 307,901 shares of the credit services provider’s stock valued at $19,715,000 after buying an additional 3,487 shares during the period. California Public Employees Retirement System raised its position in PayPal Holdings by 4.1% during the third quarter. California Public Employees Retirement System now owns 2,370,036 shares of the credit services provider’s stock valued at $151,753,000 after buying an additional 92,282 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in PayPal Holdings by 1.0% during the third quarter. Janney Montgomery Scott LLC now owns 303,200 shares of the credit services provider’s stock valued at $19,414,000 after buying an additional 2,913 shares during the period. 83.08% of the stock is currently owned by hedge funds and other institutional investors.
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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