PayPal Holdings, Inc. (NASDAQ:PYPL) Upgraded at Vetr Inc.
Vetr upgraded shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $60.76 target price on the credit services provider’s stock.
A number of other equities research analysts have also recently commented on PYPL. Zacks Investment Research upgraded PayPal Holdings from a hold rating to a buy rating and set a $48.00 target price on the stock in a research report on Wednesday, March 29th. Keefe, Bruyette & Woods restated a buy rating and set a $48.00 target price on shares of PayPal Holdings in a research report on Tuesday, April 4th. Piper Jaffray Companies restated an underweight rating and set a $41.00 target price on shares of PayPal Holdings in a research report on Friday, April 14th. Credit Suisse Group reiterated an outperform rating and issued a $47.00 price objective on shares of PayPal Holdings in a report on Monday, April 17th. Finally, Wedbush reiterated an outperform rating and issued a $54.00 price objective on shares of PayPal Holdings in a report on Wednesday, April 19th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, thirty-one have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $59.49.
PayPal Holdings (PYPL) traded down 1.58% during trading on Tuesday, hitting $59.20. The stock had a trading volume of 10,800,785 shares. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 47.74 and a beta of 0.95. PayPal Holdings has a 52-week low of $36.28 and a 52-week high of $61.30. The firm’s 50-day moving average price is $55.22 and its 200-day moving average price is $47.26.
PayPal Holdings (NASDAQ:PYPL) last posted its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts predict that PayPal Holdings will post $1.83 EPS for the current fiscal year.
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PayPal Holdings declared that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit services provider to buy up to 9.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
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 shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the transaction, the executive vice president now 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 is accessible through this hyperlink. Also, EVP Gary J. Marino sold 1,351 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at approximately $2,025,638.73. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,501 shares of company stock valued at $240,989. Insiders own 6.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Benjamin F. Edwards & Company Inc. increased its position in PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock valued at $627,000 after buying an additional 10,250 shares in the last quarter. Comerica Bank increased its position in PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock valued at $21,999,000 after buying an additional 10,270 shares in the last quarter. Clean Yield Group bought a new position in PayPal Holdings during the first quarter valued at about $127,000. Checchi Capital Advisers LLC increased its position in PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock valued at $555,000 after buying an additional 1,025 shares in the last quarter. Finally, Wealthfront Inc. increased its position in PayPal Holdings by 4.1% in the fourth quarter. Wealthfront Inc. now owns 30,944 shares of the credit services provider’s stock valued at $1,221,000 after buying an additional 1,214 shares in the last quarter. Institutional investors own 81.55% 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.
To view Vetr’s full report, visit Vetr’s official website.
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