PayPal Holdings’ (NASDAQ:PYPL) Buy Rating Reaffirmed at Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reiterated their buy rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a report published on Thursday. The firm currently has a $70.00 price objective on the credit services provider’s stock.
PYPL has been the subject of a number of other research reports. Jefferies Group LLC restated a buy rating and set a $52.00 target price on shares of PayPal Holdings in a report on Friday, April 28th. BidaskClub upgraded PayPal Holdings from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. Stifel Nicolaus restated a buy rating and set a $49.00 target price on shares of PayPal Holdings in a report on Sunday, April 23rd. Robert W. Baird restated an outperform rating and set a $65.00 target price (up previously from $59.00) on shares of PayPal Holdings in a report on Thursday. Finally, Deutsche Bank AG restated a buy rating and set a $52.00 target price on shares of PayPal Holdings in a report on Saturday, April 29th. One 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 issued a strong buy rating to the stock. PayPal Holdings currently has an average rating of Buy and an average target price of $59.49.
PayPal Holdings (PYPL) traded down 0.600% during trading on Thursday, hitting $58.845. 2,962,565 shares of the company traded hands. The company has a market capitalization of $70.75 billion, a P/E ratio of 47.456 and a beta of 0.95. PayPal Holdings has a 12-month low of $36.28 and a 12-month high of $61.30. The stock has a 50 day moving average price of $55.22 and a 200 day moving average price of $47.26.
PayPal Holdings (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that PayPal Holdings will post $1.83 earnings per share for the current year.
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PayPal Holdings declared that its board has authorized a share repurchase plan 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 reacquire up to 9.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $54.03, for a total value of $72,994.53. Following the transaction, the executive vice president now owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction dated 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 directly owns 37,491 shares in the company, valued at approximately $1,967,527.68. The disclosure for this sale can be found here. In the last three months, insiders sold 4,501 shares of company stock worth $240,989. 6.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PYPL. Vanguard Group Inc. increased its position in 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 valued at $3,254,192,000 after buying an additional 2,549,683 shares during the period. FMR LLC increased its position in PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares during the period. BlackRock Inc. increased its position in 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 valued at $2,585,670,000 after buying an additional 58,026,239 shares during the period. Edgewood Management LLC increased its position in 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 valued at $798,817,000 after buying an additional 663,087 shares during the period. Finally, Wellington Management Group LLP increased its position in 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 valued at $637,263,000 after buying an additional 1,982,305 shares during the period. 81.26% of the stock is currently owned by institutional investors.
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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