PayPal Holdings, Inc. (NASDAQ:PYPL) Rating Reiterated by Goldman Sachs Group, Inc. (The)
Goldman Sachs Group, Inc. (The) reissued their conviction-buy rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a research note released on Thursday morning, The Fly reports. Goldman Sachs Group, Inc. (The) currently has a $72.00 price objective on the credit services provider’s stock, up from their prior price objective of $60.00.
A number of other equities research analysts also recently issued reports on PYPL. UBS AG reiterated a neutral rating and set a $48.00 price target (up from $44.00) on shares of PayPal Holdings in a research report on Friday, April 28th. J P Morgan Chase & Co reiterated an overweight rating and set a $59.00 price target on shares of PayPal Holdings in a research report on Thursday. Deutsche Bank AG lifted their price target on shares of PayPal Holdings from $61.00 to $64.00 and gave the company a buy rating in a research report on Thursday. Jefferies Group LLC reiterated a buy rating and set a $68.00 price target (up from $61.00) on shares of PayPal Holdings in a research report on Monday, July 24th. Finally, Citigroup Inc. reiterated a positive rating and set a $67.00 price target (up from $55.00) on shares of PayPal Holdings in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty-one have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $59.49.
Shares of PayPal Holdings (PYPL) traded down 0.600% on Thursday, hitting $58.845. The stock had a trading volume of 2,962,565 shares. The firm has a market cap of $70.75 billion, a price-to-earnings ratio of 47.456 and a beta of 0.95. The stock has a 50 day moving average of $55.22 and a 200 day moving average of $47.26. PayPal Holdings has a 12-month low of $36.28 and a 12-month high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period last year, the firm earned $0.36 EPS. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts predict that PayPal Holdings will post $1.83 earnings per share for the current fiscal year.
WARNING: This piece was posted by Watch List News and is the property of of Watch List News. If you are accessing this piece on another website, it was illegally stolen and reposted in violation of United States & international trademark & copyright law. The legal version of this piece can be accessed at https://www.watchlistnews.com/paypal-holdings-inc-nasdaqpypl-rating-reiterated-by-goldman-sachs-group-inc-the/1464049.html.
PayPal Holdings declared that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In other PayPal Holdings news, Director Gail J. Mcgovern sold 1,800 shares of the business’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total value of $97,146.00. Following the transaction, the director now owns 12,647 shares in the company, valued at approximately $682,558.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,351 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the transaction, the executive vice president now owns 37,491 shares in the company, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. Insiders sold a total of 4,501 shares of company stock worth $240,989 in the last quarter. 6.00% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock worth $3,254,192,000 after buying an additional 2,549,683 shares in the last quarter. FMR LLC raised its position in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock worth $2,600,728,000 after buying an additional 13,296,056 shares in the last quarter. BlackRock Inc. raised its position 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 worth $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. Edgewood Management LLC raised its position in shares of PayPal Holdings by 3.7% in the first quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after buying an additional 663,087 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PayPal Holdings by 15.4% in the first quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after buying an additional 1,982,305 shares in the last quarter. Hedge funds and other institutional investors own 81.26% 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 Analyst Ratings Network's FREE daily email newsletter.