PayPal Holdings, Inc. (NASDAQ:PYPL)‘s stock had its “overweight” rating reissued by research analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Thursday, July 27th, The Fly reports. They presently have a $59.00 price objective on the credit services provider’s stock. J P Morgan Chase & Co’s price objective suggests a potential downside of 2.14% from the stock’s current price.
A number of other equities analysts have also commented on the company. Piper Jaffray Companies dropped their price objective on PayPal Holdings from $32.00 to $29.00 and set a “hold” rating on the stock in a research note on Monday, April 17th. Zacks Investment Research downgraded PayPal Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, April 27th. Robert W. Baird lifted their target price on PayPal Holdings from $48.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, April 28th. Vetr raised PayPal Holdings from a “hold” rating to a “buy” rating and set a $51.23 target price on the stock in a research report on Thursday, May 4th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $53.00 target price (up from $48.00) on shares of PayPal Holdings in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $59.49.
Shares of PayPal Holdings (PYPL) opened at 60.29 on Thursday. The firm’s 50-day moving average price is $57.53 and its 200-day moving average price is $48.91. PayPal Holdings has a 52-week low of $36.30 and a 52-week high of $61.30. The stock has a market capitalization of $72.49 billion, a P/E ratio of 48.62 and a beta of 0.99. PayPal Holdings also saw some unusual options trading on Wednesday. Traders acquired 3,225 call options on the stock. This represents an increase of 657% compared to the typical daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The business’s revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 earnings per share. Equities analysts forecast that PayPal Holdings will post $1.83 earnings per share for the current fiscal year.
PayPal Holdings declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, April 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $52.48, for a total transaction of $70,848.00. Following the sale, the executive vice president now owns 37,491 shares in the company, valued at $1,967,527.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the sale, the chief operating officer now owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. Insiders have sold 265,852 shares of company stock worth $15,543,798 in the last ninety days. Insiders own 6.00% of the company’s stock.
A number of large investors have recently made changes to their positions in PYPL. BlackRock Inc. boosted its stake in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock valued at $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. FMR LLC boosted its stake in shares of PayPal Holdings by 36.1% in the second quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after buying an additional 21,814,940 shares in the last quarter. Capital World Investors boosted its stake in shares of PayPal Holdings 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 buying an additional 4,663,337 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of PayPal Holdings 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 buying an additional 4,444,097 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of PayPal Holdings by 100.7% in the second quarter. American Century Companies Inc. now owns 8,080,639 shares of the credit services provider’s stock valued at $433,688,000 after buying an additional 4,054,993 shares in the last quarter. Institutional investors own 81.54% 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.
Receive News & Ratings for PayPal Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PayPal Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
