PayPal Holdings, Inc. (NASDAQ:PYPL) was upgraded by equities research analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report released on Monday, July 10th, Marketbeat Ratings reports. The firm currently has a $61.00 target price on the credit services provider’s stock, up from their prior target price of $46.00. Sanford C. Bernstein’s price target would indicate a potential upside of 3.64% from the stock’s current price.
Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of PayPal Holdings from a “c” rating to a “b-” rating in a research note on Monday, July 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 target price on shares of PayPal Holdings in a report on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 target price on shares of PayPal Holdings in a report on Wednesday, April 19th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 target price on shares of PayPal Holdings in a report on Tuesday, April 4th. Finally, Zacks Investment Research upgraded shares of PayPal Holdings from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Wednesday, March 29th. 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. The stock presently has an average rating of “Buy” and a consensus target price of $59.49.
Shares of PayPal Holdings (NASDAQ:PYPL) traded up 0.75% during mid-day trading on Monday, hitting $58.86. 6,174,328 shares of the company’s stock traded hands. The stock has a market cap of $70.77 billion, a P/E ratio of 47.47 and a beta of 0.99. PayPal Holdings has a 1-year low of $36.28 and a 1-year high of $61.30. The stock has a 50 day moving average price of $55.57 and a 200-day moving average price of $47.60.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Equities research analysts anticipate that PayPal Holdings will post $1.84 EPS for the current fiscal year.
PayPal Holdings announced that its board has authorized a share repurchase plan on Wednesday, April 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the transaction, the executive vice president now owns 37,491 shares in the company, valued at approximately $1,967,527.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO William J. Ready sold 90,000 shares of the 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 transaction, the chief operating officer now owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,852 shares of company stock worth $5,653,198. 6.00% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Van Cleef Asset Management Inc boosted its position in shares of PayPal Holdings by 0.6% in the second quarter. Van Cleef Asset Management Inc now owns 154,691 shares of the credit services provider’s stock worth $8,302,000 after buying an additional 900 shares during the last quarter. Federated Investors Inc. PA raised its stake in PayPal Holdings by 224.3% in the second quarter. Federated Investors Inc. PA now owns 200,602 shares of the credit services provider’s stock valued at $10,766,000 after buying an additional 138,736 shares during the period. Mosaic Family Wealth LLC raised its stake in PayPal Holdings by 64.8% in the second quarter. Mosaic Family Wealth LLC now owns 18,403 shares of the credit services provider’s stock valued at $988,000 after buying an additional 7,233 shares during the period. Cadence Capital Management LLC raised its stake in PayPal Holdings by 1.6% in the second quarter. Cadence Capital Management LLC now owns 50,788 shares of the credit services provider’s stock valued at $2,726,000 after buying an additional 822 shares during the period. Finally, Apriem Advisors raised its stake in PayPal Holdings by 0.6% in the second quarter. Apriem Advisors now owns 8,398 shares of the credit services provider’s stock valued at $451,000 after buying an additional 52 shares during the period. Institutional investors own 81.26% of the company’s stock.
PayPal Holdings Company Profile
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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