Zacks Investment Research cut shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a buy rating to a hold rating in a research note published 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.”
A number of other equities analysts have also issued reports on the stock. Vetr upgraded shares of PayPal Holdings from a hold rating to a buy rating and set a $76.80 price objective on the stock in a research report on Tuesday, October 31st. Jefferies Group LLC reiterated an outperform rating and issued a $80.00 price objective on shares of PayPal Holdings in a research report on Monday, October 23rd. Piper Jaffray Companies reiterated a hold rating and issued a $69.00 price objective on shares of PayPal Holdings in a research report on Sunday, October 22nd. Stifel Nicolaus raised their target price on PayPal Holdings from $61.00 to $70.00 and gave the company a hold rating in a report on Sunday, October 22nd. Finally, William Blair reissued a buy rating on shares of PayPal Holdings in a report on Friday, October 20th. Ten research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. PayPal Holdings currently has an average rating of Buy and a consensus price target of $73.11.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. PayPal Holdings had a net margin of 12.69% and a return on equity of 11.33%. The firm’s revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. research analysts anticipate that PayPal Holdings will post 1.37 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of PYPL. San Francisco Sentry Investment Group CA increased its holdings in shares of PayPal Holdings by 352.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock valued at $100,000 after acquiring an additional 1,217 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in PayPal Holdings in the 3rd quarter valued at approximately $113,000. Kistler Tiffany Companies LLC grew its holdings in PayPal Holdings by 511.9% in the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after buying an additional 1,684 shares during the last quarter. Archford Capital Strategies LLC grew its holdings in PayPal Holdings by 65.4% in the 1st quarter. Archford Capital Strategies LLC now owns 3,241 shares of the credit services provider’s stock valued at $139,000 after buying an additional 1,281 shares during the last quarter. Finally, Balentine LLC grew its holdings in PayPal Holdings by 28.7% in the 1st quarter. Balentine LLC now owns 3,494 shares of the credit services provider’s stock valued at $150,000 after buying an additional 780 shares during the last quarter. 82.77% of the stock is currently owned by 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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