Paypal (NASDAQ:PYPL) Receives “Buy” Rating from Bank of America
Bank of America reissued their buy rating on shares of Paypal (NASDAQ:PYPL) in a research note issued to investors on Thursday morning, AnalystRatings.com reports. They currently have a $131.00 price objective on the credit services provider’s stock, up from their prior price objective of $123.00.
A number of other equities analysts have also recently commented on the stock. BidaskClub raised shares of Paypal from a buy rating to a strong-buy rating in a report on Friday, May 17th. BTIG Research lifted their target price on shares of Paypal from $114.00 to $130.00 and gave the company a buy rating in a report on Monday, May 6th. They noted that the move was a valuation call. Cantor Fitzgerald reaffirmed a buy rating on shares of Paypal in a report on Wednesday, May 1st. KeyCorp lifted their target price on shares of Paypal from $115.00 to $118.00 and gave the company an overweight rating in a report on Monday, April 29th. Finally, Oppenheimer boosted their price objective on shares of Paypal from $100.00 to $116.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Ten research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $108.66.
Shares of Paypal stock opened at $116.17 on Thursday. The firm has a market capitalization of $136.49 billion, a PE ratio of 64.90, a price-to-earnings-growth ratio of 2.90 and a beta of 1.02. Paypal has a 12 month low of $74.66 and a 12 month high of $117.45.
In other news, COO William J. Ready sold 46,038 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $108.77, for a total transaction of $5,007,553.26. Following the transaction, the chief operating officer now directly owns 88,098 shares of the company’s stock, valued at approximately $9,582,419.46. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $111.09, for a total transaction of $3,332,700.00. Following the transaction, the insider now directly owns 523,821 shares in the company, valued at $58,191,274.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,714 shares of company stock worth $19,911,348. Corporate insiders own 0.15% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Truehand Inc purchased a new stake in shares of Paypal in the 4th quarter worth about $25,000. Semmax Financial Advisors Inc. boosted its position in shares of Paypal by 630.2% in the 1st quarter. Semmax Financial Advisors Inc. now owns 314 shares of the credit services provider’s stock worth $33,000 after buying an additional 271 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of Paypal in the 4th quarter worth about $27,000. Private Ocean LLC boosted its position in shares of Paypal by 386.7% in the 1st quarter. Private Ocean LLC now owns 365 shares of the credit services provider’s stock worth $38,000 after buying an additional 290 shares in the last quarter. Finally, CX Institutional boosted its position in shares of Paypal by 605.7% in the 1st quarter. CX Institutional now owns 374 shares of the credit services provider’s stock worth $39,000 after buying an additional 321 shares in the last quarter. 80.92% of the stock is currently owned by institutional investors and hedge funds.
PayPal Holdings, Inc operates as a technology platform and digital payments company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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