Zacks Investment Research upgraded shares of Paypal (NASDAQ:PYPL) from a hold rating to a buy rating in a report published on Wednesday, December 20th. They currently have $84.00 price objective on the credit services provider’s stock.
According to Zacks, “PayPal is currently riding on partnerships and mobile centrism. The company continues to perform strongly in global payments, especially mobile. PayPal’s ongoing strategic partnerships with Visa and MasterCard offer great flexibility and choice to consumers. It recently extended its partnership with Mastercard (MA) in Europe, Latin America, Canada, Africa, the Caribbean and the Middle East. Partnerships with Google, Facebook, Pinterest, Alibaba, Intuit and other major retailers and financial institutions are also delivering positive results. However, continuous exposure to foreign exchange and interest rate risks are concerns. Year to date, the stock has outperformed the industry it belongs to.”
Other research analysts have also recently issued research reports about the company. BidaskClub raised Paypal from a buy rating to a strong-buy rating in a research note on Tuesday, December 19th. Nomura raised Paypal to a buy rating and increased their price objective for the stock from $79.00 to $82.00 in a research note on Wednesday, December 13th. BMO Capital Markets increased their price objective on Paypal from $80.00 to $85.00 and gave the stock an outperform rating in a research note on Wednesday, December 13th. Vetr cut Paypal from a strong-buy rating to a buy rating and set a $80.71 price objective on the stock. in a research note on Wednesday, December 6th. Finally, Credit Suisse Group reissued a buy rating and issued a $85.00 price objective on shares of Paypal in a research note on Tuesday, December 5th. Ten research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $76.05.
Paypal (NASDAQ PYPL) traded up $0.79 during midday trading on Wednesday, hitting $80.54. The stock had a trading volume of 6,797,100 shares, compared to its average volume of 9,320,000. The company has a market capitalization of $96,800.00 and a price-to-earnings ratio of 62.92. Paypal has a 1 year low of $39.02 and a 1 year high of $80.77.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. Paypal had a return on equity of 11.33% and a net margin of 12.69%. The business had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year. research analysts forecast that Paypal will post 1.37 earnings per share for the current year.
In related news, Director Rodney C. Adkins acquired 6,750 shares of Paypal stock in a transaction on Friday, December 8th. The stock was acquired at an average price of $74.04 per share, for a total transaction of $499,770.00. Following the purchase, the director now owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.00% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. San Francisco Sentry Investment Group CA grew its position in shares of Paypal by 352.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock valued at $100,000 after acquiring an additional 1,217 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paypal during the 3rd quarter valued at about $113,000. Kistler Tiffany Companies LLC grew its position in shares of Paypal by 511.9% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock valued at $129,000 after acquiring an additional 1,684 shares during the period. Harvest Fund Management Co. Ltd grew its position in shares of Paypal by 171.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock valued at $154,000 after acquiring an additional 1,808 shares during the period. Finally, Thompson Davis & CO. Inc. grew its position in shares of Paypal by 294.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,421 shares of the credit services provider’s stock valued at $155,000 after acquiring an additional 1,807 shares during the period. Institutional investors and hedge funds own 80.73% of the company’s stock.
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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