Loop Capital reissued their hold rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a research note released on Wednesday, July 12th. The firm currently has a $49.00 price objective on the credit services provider’s stock.
PYPL has been the topic of several other reports. Vetr lowered PayPal Holdings from a buy rating to a hold rating and set a $56.88 target price on the stock. in a research note on Monday, July 10th. Royal Bank Of Canada restated a buy rating and issued a $52.00 target price on shares of PayPal Holdings in a research note on Wednesday, July 5th. Citigroup Inc. restated a buy rating and issued a $62.00 target price (up from $52.00) on shares of PayPal Holdings in a research note on Friday, June 9th. BMO Capital Markets boosted their target price on PayPal Holdings from $52.00 to $60.00 and gave the company an outperform rating in a research note on Friday, June 9th. Finally, BTIG Research boosted their price objective on PayPal Holdings from $53.00 to $63.00 and gave the company a buy rating in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $59.49.
Shares of PayPal Holdings (NASDAQ:PYPL) opened at 59.48 on Wednesday. The company has a market cap of $71.52 billion, a PE ratio of 47.97 and a beta of 0.99. The company has a 50-day moving average price of $56.15 and a 200-day moving average price of $47.84. PayPal Holdings has a 1-year low of $36.30 and a 1-year high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the previous year, the firm earned $0.36 earnings per share. The business’s revenue was up 18.3% on a year-over-year basis. Equities research analysts expect that PayPal Holdings will post $1.84 earnings per share for the current fiscal year.
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PayPal Holdings declared that its board has initiated a share buyback program on Wednesday, April 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
In other news, EVP Gary J. Marino sold 1,351 shares of the firm’s 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 transaction, the executive vice president now directly owns 37,492 shares in the company, valued at approximately $2,212,028. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO William J. Ready sold 90,000 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the completion of the transaction, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 95,852 shares of company stock worth $5,653,198. Company insiders own 6.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock worth $3,254,192,000 after buying an additional 2,549,683 shares in the last quarter. FMR LLC boosted its position in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock worth $2,600,728,000 after buying an additional 13,296,056 shares in the last quarter. BlackRock Inc. boosted its position in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock worth $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. Edgewood Management LLC boosted its position in shares of PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after buying an additional 663,087 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after buying an additional 1,982,305 shares in the last quarter. 81.31% 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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