PayPal Holdings, Inc. (NASDAQ:PYPL) was upgraded by investment analysts at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a report issued on Monday. The firm currently has a $61.00 target price on the credit services provider’s stock, up from their previous target price of $46.00. Sanford C. Bernstein’s price target would indicate a potential upside of 11.40% from the company’s previous close.
PYPL has been the subject of several other research reports. Jefferies Group LLC reiterated a “buy” rating and issued a $52.00 price objective on shares of PayPal Holdings in a research note on Friday, April 28th. BidaskClub upgraded shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $48.00 price objective on shares of PayPal Holdings in a research note on Tuesday, April 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a research note on Sunday, April 23rd. Finally, Vetr upgraded shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating and set a $51.67 target price for the company in a research report on Tuesday, March 14th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $52.19.
PayPal Holdings (NASDAQ PYPL) opened at 54.76 on Monday. PayPal Holdings has a 12-month low of $36.28 and a 12-month high of $55.20. The firm has a 50-day moving average of $52.01 and a 200 day moving average of $44.86. The stock has a market capitalization of $65.78 billion, a price-to-earnings ratio of 46.80 and a beta of 0.95.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $0.32 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by $0.01. PayPal Holdings had a net margin of 12.60% and a return on equity of 10.78%. The company had revenue of $2.98 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business earned $0.37 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, analysts predict that PayPal Holdings will post $1.78 earnings per share for the current fiscal year.
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In related news, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the sale, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gail J. Mcgovern sold 1,800 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the completion of the sale, the director now directly owns 12,647 shares in the company, valued at $682,558.59. The disclosure for this sale can be found here. Insiders sold 4,501 shares of company stock worth $240,989 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Ladenburg Thalmann Financial Services Inc. boosted its stake in PayPal Holdings by 5.2% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 52,278 shares of the credit services provider’s stock valued at $2,076,000 after buying an additional 2,574 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in PayPal Holdings during the fourth quarter valued at about $47,899,000. L & S Advisors Inc bought a new stake in PayPal Holdings during the fourth quarter valued at about $497,000. Cigna Investments Inc. New bought a new stake in PayPal Holdings during the fourth quarter valued at about $1,637,000. Finally, Boothbay Fund Management LLC bought a new stake in PayPal Holdings during the fourth quarter valued at about $229,000. 81.83% 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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