BidaskClub Downgrades PayPal Holdings, Inc. (PYPL) to Buy
PayPal Holdings, Inc. (NASDAQ:PYPL) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.
A number of other brokerages have also recently weighed in on PYPL. Citigroup Inc. reiterated a “buy” rating and issued a $62.00 target price (up previously from $52.00) on shares of PayPal Holdings in a report on Friday, June 9th. Instinet restated a “buy” rating and set a $54.00 price objective on shares of PayPal Holdings in a research note on Friday, May 19th. BMO Capital Markets boosted their price objective on PayPal Holdings from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, June 9th. Robert W. Baird reiterated an “outperform” rating and issued a $59.00 price target (up previously from $54.00) on shares of PayPal Holdings in a research note on Saturday, June 3rd. Finally, Jefferies Group LLC reiterated a “buy” rating on shares of PayPal Holdings in a research note on Wednesday, February 15th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. PayPal Holdings has a consensus rating of “Buy” and a consensus target price of $50.19.
PayPal Holdings (NASDAQ:PYPL) opened at 52.29 on Wednesday. The firm has a market cap of $62.81 billion, a price-to-earnings ratio of 44.69 and a beta of 0.95. The stock has a 50 day moving average price of $50.68 and a 200 day moving average price of $43.84. PayPal Holdings has a 52 week low of $34.00 and a 52 week high of $55.14.
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 Zacks’ consensus estimate of $0.33 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. PayPal Holdings had a net margin of 12.60% and a return on equity of 10.78%. PayPal Holdings’s revenue for the quarter was up 16.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. Equities research analysts expect that PayPal Holdings will post $1.78 EPS for the current year.
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In related news, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total value of $97,146.00. Following the completion of the sale, the director now owns 12,647 shares of the company’s stock, valued at $682,558.59. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gary J. Marino sold 13,535 shares of the firm’s stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $42.52, for a total transaction of $575,508.20. Following the completion of the sale, the executive vice president now directly owns 39,405 shares of the company’s stock, valued at approximately $1,675,500.60. The disclosure for this sale can be found here. In the last three months, insiders sold 16,685 shares of company stock valued at $743,502. 6.00% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Dodge & Cox acquired a new position in shares of PayPal Holdings during the fourth quarter worth about $7,816,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock worth $627,000 after buying an additional 10,250 shares during the last quarter. Clean Yield Group acquired a new position in shares of PayPal Holdings during the first quarter worth about $127,000. Comerica Bank boosted its position in shares of PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock worth $21,999,000 after buying an additional 10,270 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of PayPal Holdings by 5.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 4,520,450 shares of the credit services provider’s stock worth $178,423,000 after buying an additional 246,950 shares during the last quarter. 81.93% of the stock is owned by institutional investors and hedge funds.
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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