Paypal Holdings Inc. (PYPL) Shares Gap Up to $36.32
Shares of Paypal Holdings Inc. (NASDAQ:PYPL) gapped up prior to trading on Friday . The stock had previously closed at $36.05, but opened at $36.32. Paypal Holdings shares last traded at $37.36, with a volume of 7,301,466 shares trading hands.
A number of brokerages have issued reports on PYPL. Cantor Fitzgerald restated a “buy” rating on shares of Paypal Holdings in a research report on Saturday, June 4th. Pacific Crest restated a “hold” rating on shares of Paypal Holdings in a research report on Thursday, June 2nd. Vetr cut shares of Paypal Holdings from a “strong-buy” rating to a “buy” rating and set a $44.01 target price for the company. in a research report on Monday, April 18th. Zacks Investment Research cut shares of Paypal Holdings from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $41.00 target price on shares of Paypal Holdings in a research report on Thursday, April 28th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.27.
The firm has a market capitalization of $44.50 billion and a P/E ratio of 34.28. The firm’s 50-day moving average is $37.02 and its 200-day moving average is $37.16.
Paypal Holdings (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, April 27th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.50 billion. Paypal Holdings’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts expect that Paypal Holdings Inc. will post $1.49 earnings per share for the current year.
Several hedge funds and institutional investors recently modified their holdings of the stock. Meridian Management Co. bought a new position in shares of Paypal Holdings during the fourth quarter worth about $1,555,000. Sei Investments Co. acquired a new position in Paypal Holdings during the fourth quarter worth about $37,703,000. Swiss National Bank acquired a new position in Paypal Holdings during the fourth quarter worth about $84,838,000. Banque Pictet & Cie SA acquired a new position in Paypal Holdings during the fourth quarter worth about $1,352,000. Finally, Smead Capital Management Inc. acquired a new position in Paypal Holdings during the fourth quarter worth about $86,220,000.
PayPal Holdings, Inc (PayPal) is a technology platform company, which enables digital and mobile payments on behalf of consumers and merchants around the world. The Company focuses on its consumers, merchants, friends and family to access and move their money through its platform using various devices, such as mobile, tablets, personal computers and wearables.
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