PayPal Holdings, Inc. (PYPL) Rating Reiterated by Bank of America Corporation
Bank of America Corporation reiterated their neutral rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a research note released on Thursday. Bank of America Corporation currently has a $62.00 target price on the credit services provider’s stock, up from their prior target price of $58.00.
A number of other equities analysts have also recently issued reports on PYPL. UBS AG reiterated a neutral rating and issued a $48.00 target price (up from $44.00) on shares of PayPal Holdings in a report on Friday, April 28th. Goldman Sachs Group, Inc. (The) restated a conviction-buy rating and set a $72.00 price objective (up from $60.00) on shares of PayPal Holdings in a research note on Thursday. J P Morgan Chase & Co restated an overweight rating and set a $59.00 price objective on shares of PayPal Holdings in a research note on Thursday. Stephens restated an overweight rating and set a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a research note on Thursday. Finally, Robert W. Baird restated an outperform rating and set a $65.00 price objective (up from $59.00) on shares of PayPal Holdings in a research note on Thursday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirty-one have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $59.49.
Shares of PayPal Holdings (NASDAQ PYPL) traded down 0.600% during trading on Thursday, reaching $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 has a market capitalization of $70.75 billion, a PE ratio of 47.456 and a beta of 0.95. The company has a 50-day moving average of $55.22 and a 200-day moving average of $47.26.
PayPal Holdings (NASDAQ:PYPL) last issued its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.09 billion. During the same period last year, the business earned $0.36 EPS. PayPal Holdings’s quarterly revenue was up 18.3% compared to the same quarter last year. Analysts forecast that PayPal Holdings will post $1.83 earnings per share for the current fiscal year.
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PayPal Holdings declared that its Board of Directors has approved a stock buyback program on Wednesday, April 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the credit services provider to reacquire up to 9.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
In other news, EVP Gary J. Marino sold 1,350 shares of the business’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the completion of the transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gail J. Mcgovern sold 1,800 shares of the business’s stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $53.97, for a total value of $97,146.00. Following the transaction, the director now directly owns 12,647 shares of the company’s stock, valued at approximately $682,558.59. The disclosure for this sale can be found here. Insiders have sold 4,501 shares of company stock valued at $240,989 in the last three months. 6.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Howland Capital Management LLC raised its position in shares of PayPal Holdings by 0.4% in the first quarter. Howland Capital Management LLC now owns 5,524 shares of the credit services provider’s stock valued at $238,000 after buying an additional 24 shares during the last quarter. Norway Savings Bank raised its position in shares of PayPal Holdings by 0.5% in the first quarter. Norway Savings Bank now owns 5,300 shares of the credit services provider’s stock valued at $228,000 after buying an additional 25 shares during the last quarter. Bangor Savings Bank raised its position in shares of PayPal Holdings by 0.3% in the first quarter. Bangor Savings Bank now owns 12,480 shares of the credit services provider’s stock valued at $537,000 after buying an additional 34 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in shares of PayPal Holdings by 0.9% in the first quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock valued at $187,000 after buying an additional 38 shares during the last quarter. Finally, Sheets Smith Wealth Management raised its position in shares of PayPal Holdings by 1.0% in the first quarter. Sheets Smith Wealth Management now owns 7,715 shares of the credit services provider’s stock valued at $332,000 after buying an additional 75 shares during the last quarter. 81.26% of the stock is owned by institutional investors.
PayPal Holdings Company Profile
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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