Vetr Downgrades Paypal (PYPL) to Buy
Vetr downgraded shares of Paypal (NASDAQ:PYPL) from a strong-buy rating to a buy rating in a research report released on Wednesday. Vetr currently has $80.71 price target on the credit services provider’s stock.
A number of other equities research analysts also recently weighed in on PYPL. Royal Bank Of Canada reaffirmed a buy rating and issued a $65.00 target price on shares of Paypal in a research note on Tuesday, August 29th. Susquehanna Bancshares reaffirmed a positive rating and issued a $67.00 target price on shares of Paypal in a research note on Tuesday, August 29th. Credit Suisse Group reaffirmed an outperform rating on shares of Paypal in a research note on Tuesday, September 5th. Sanford C. Bernstein reaffirmed an outperform rating and issued a $66.00 target price (up from $61.00) on shares of Paypal in a research note on Tuesday, September 5th. Finally, Jefferies Group reaffirmed a buy rating and issued a $61.27 target price (down from $70.00) on shares of Paypal in a research note on Wednesday, September 6th. Ten equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $73.25.
Shares of Paypal (NASDAQ PYPL) traded down $0.78 on Wednesday, reaching $72.91. 8,350,000 shares of the company were exchanged, compared to its average volume of 10,462,285. The stock has a market capitalization of $87,631.27, a P/E ratio of 52.08, a P/E/G ratio of 2.99 and a beta of 1.03. Paypal has a 1-year low of $39.02 and a 1-year high of $79.39.
Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. Paypal had a net margin of 12.69% and a return on equity of 11.33%. Paypal’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period last year, the firm posted $0.35 earnings per share. analysts expect that Paypal will post 1.37 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of PYPL. FMR LLC increased its stake in shares of Paypal by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock worth $4,415,371,000 after buying an additional 21,814,940 shares during the period. Jennison Associates LLC purchased a new position in shares of Paypal in the third quarter worth $481,937,000. Harding Loevner LP increased its stake in shares of Paypal by 86.1% in the third quarter. Harding Loevner LP now owns 11,353,818 shares of the credit services provider’s stock worth $381,030,000 after buying an additional 5,253,746 shares during the period. Capital World Investors boosted its holdings in Paypal by 313.5% in the second quarter. Capital World Investors now owns 6,151,049 shares of the credit services provider’s stock valued at $330,127,000 after acquiring an additional 4,663,337 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in Paypal by 1,064.7% in the second quarter. Janus Henderson Group PLC now owns 4,861,493 shares of the credit services provider’s stock valued at $260,921,000 after acquiring an additional 4,444,097 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.
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Paypal 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.
To view Vetr’s full report, visit Vetr’s official website.
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