PayPal Holdings, Inc. (NASDAQ:PYPL) Stock Rating Reaffirmed by Citigroup Inc.
Citigroup Inc. reiterated their buy rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a report issued on Thursday. The firm currently has a $67.00 price objective on the credit services provider’s stock, up from their previous price objective of $62.00.
PYPL has been the topic of several other reports. Jefferies Group LLC reiterated a buy rating and issued a $52.00 price objective on shares of PayPal Holdings in a report on Friday, April 28th. BidaskClub upgraded shares of PayPal Holdings from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $48.00 price objective on shares of PayPal Holdings in a report on Tuesday, April 4th. Stifel Nicolaus reiterated a buy rating and issued a $49.00 price objective on shares of PayPal Holdings in a report on Sunday, April 23rd. Finally, Deutsche Bank AG reiterated a buy rating and issued a $52.00 price objective on shares of PayPal Holdings in a report on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have issued a buy rating and two have assigned a strong buy rating to the stock. PayPal Holdings presently has an average rating of Buy and a consensus price target of $59.49.
Shares of PayPal Holdings (PYPL) traded down 0.600% during midday trading on Thursday, hitting $58.845. 2,962,565 shares of the company traded hands. PayPal Holdings has a 12-month low of $36.28 and a 12-month high of $61.30. The stock’s 50-day moving average is $55.22 and its 200 day moving average is $47.26. The stock has a market capitalization of $70.75 billion, a P/E ratio of 47.456 and a beta of 0.95.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the previous year, the company earned $0.36 earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. On average, analysts expect that PayPal Holdings will post $1.83 earnings per share for the current year.
PayPal Holdings announced that its board has authorized a share repurchase plan on Wednesday, April 26th that permits the company to buyback $5.00 billion in 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 often a sign that the company’s board believes its stock is undervalued.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $54.03, for a total transaction of $72,994.53. Following the completion of the sale, the executive vice president now owns 37,491 shares of the company’s stock, valued at approximately $2,025,638.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gary J. Marino sold 1,350 shares of the 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 directly owns 37,491 shares of the company’s stock, valued at approximately $1,967,527.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,501 shares of company stock valued at $240,989 in the last three months. Insiders own 6.00% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Aspen Investment Management Inc increased its stake in PayPal Holdings by 1.0% in the fourth quarter. Aspen Investment Management Inc now owns 20,265 shares of the credit services provider’s stock worth $800,000 after buying an additional 200 shares in the last quarter. Teachers Advisors LLC increased its stake in PayPal Holdings by 17.8% in the fourth quarter. Teachers Advisors LLC now owns 2,537,888 shares of the credit services provider’s stock worth $100,170,000 after buying an additional 383,821 shares in the last quarter. Kentucky Retirement Systems purchased a new stake in PayPal Holdings during the fourth quarter worth $3,214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in PayPal Holdings during the fourth quarter worth $1,434,000. Finally, Searle & CO. purchased a new stake in PayPal Holdings during the fourth quarter worth $1,250,000. 81.26% of the stock is owned by institutional investors and hedge funds.
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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