PayPal Holdings, Inc. (PYPL) Upgraded by Vetr Inc. to “Buy”
PayPal Holdings, Inc. (NASDAQ:PYPL) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm presently has a $60.76 price target on the credit services provider’s stock. Vetr‘s price target would suggest a potential upside of 4.72% from the stock’s previous close.
A number of other equities research analysts have also recently commented on the company. Zacks Investment Research cut PayPal Holdings from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Piper Jaffray Companies reissued a “hold” rating and set a $57.00 price target on shares of PayPal Holdings in a report on Friday, July 28th. Loop Capital reissued a “hold” rating and set a $51.00 price target (up from $49.00) on shares of PayPal Holdings in a report on Thursday, July 27th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $61.00 price target (up from $51.00) on shares of PayPal Holdings in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $59.49.
PayPal Holdings (NASDAQ PYPL) traded down 2.77% during mid-day trading on Thursday, hitting $58.02. The company had a trading volume of 9,571,160 shares. The firm’s 50 day moving average is $56.89 and its 200 day moving average is $48.35. PayPal Holdings has a 52 week low of $36.30 and a 52 week high of $61.30. The company has a market capitalization of $69.76 billion, a price-to-earnings ratio of 46.79 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. On average, equities research analysts predict that PayPal Holdings will post $1.84 EPS for the current year.
PayPal Holdings announced that its board has authorized a stock buyback plan on Wednesday, April 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the credit services provider to buy up to 9.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
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In related news, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were 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 of the company’s stock, valued at $1,733,181. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,350 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at approximately $1,967,527.68. The disclosure for this sale can be found here. Insiders have sold 95,852 shares of company stock valued at $5,653,198 in the last ninety days. Insiders own 6.00% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. increased 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 period. Comerica Bank increased 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 period. Clean Yield Group acquired a new position in shares of PayPal Holdings during the first quarter worth approximately $127,000. Checchi Capital Advisers LLC increased its position in shares of PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock worth $555,000 after buying an additional 1,025 shares during the period. Finally, Good Life Advisors LLC acquired a new position in shares of PayPal Holdings during the first quarter worth approximately $248,000. 81.31% of the stock is 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.
To view Vetr’s full report, visit Vetr’s official website.
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