PayPal Holdings, Inc. (NASDAQ:PYPL) had its price target increased by investment analysts at Barclays PLC from $63.00 to $66.00 in a report released on Thursday, July 27th. The firm currently has an “overweight” rating on the credit services provider’s stock. Barclays PLC’s price objective suggests a potential upside of 10.61% from the stock’s previous close.
Several other analysts also recently weighed in on the company. TheStreet upgraded PayPal Holdings from a “c” rating to a “b-” rating in a research report on Monday, July 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $49.00 price objective on shares of PayPal Holdings in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “buy” rating and set a $52.00 target price on shares of PayPal Holdings in a report on Wednesday, April 19th. Cantor Fitzgerald restated a “buy” rating and set a $53.00 target price (up previously from $48.00) on shares of PayPal Holdings in a report on Thursday, April 27th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $48.00 target price on shares of PayPal Holdings in a report on Tuesday, April 4th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $59.49.
Shares of PayPal Holdings (NASDAQ PYPL) traded up 0.32% on Thursday, reaching $59.67. 6,023,896 shares of the company were exchanged. PayPal Holdings has a 12-month low of $36.30 and a 12-month high of $61.30. The stock’s 50-day moving average is $56.15 and its 200 day moving average is $47.84. The firm has a market capitalization of $71.75 billion, a PE ratio of 48.12 and a beta of 0.99.
PayPal Holdings (NASDAQ:PYPL) last released its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. PayPal Holdings’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. On average, analysts forecast that PayPal Holdings will post $1.84 EPS for the current year.
PayPal Holdings announced that its board has initiated a share repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to purchase up to 9.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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In other PayPal Holdings news, EVP Gary J. Marino sold 1,350 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO William J. Ready sold 90,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now owns 29,252 shares in the company, valued at $1,733,181. The disclosure for this sale can be found here. Insiders sold 95,852 shares of company stock valued at $5,653,198 over the last 90 days. Company insiders own 6.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Thompson Davis & CO. Inc. boosted its stake in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of PayPal Holdings during the first quarter valued at about $106,000. Carroll Financial Associates Inc. boosted its stake in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in shares of PayPal Holdings during the first quarter valued at about $119,000. Finally, West Oak Capital LLC boosted its stake in shares of PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock valued at $123,000 after buying an additional 550 shares during the last quarter. Institutional investors own 81.31% of the company’s stock.
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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