Paypal (PYPL) Upgraded at Nomura
Paypal (NASDAQ:PYPL) was upgraded by stock analysts at Nomura to a “buy” rating in a report released on Wednesday. The firm presently has a $82.00 price target on the credit services provider’s stock, up from their previous price target of $79.00. Nomura’s price objective would suggest a potential upside of 10.69% from the company’s previous close.
Several other research analysts also recently commented on PYPL. Royal Bank of Canada reissued a “buy” rating and set a $65.00 price objective on shares of Paypal in a report on Tuesday, August 29th. Susquehanna Bancshares reissued a “positive” rating and set a $67.00 price objective on shares of Paypal in a report on Tuesday, August 29th. Credit Suisse Group reissued an “outperform” rating on shares of Paypal in a report on Tuesday, September 5th. Sanford C. Bernstein reissued an “outperform” rating and set a $66.00 price objective (up previously from $61.00) on shares of Paypal in a report on Tuesday, September 5th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $61.27 price target (down previously from $70.00) on shares of Paypal in a report on Wednesday, September 6th. Ten research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $73.53.
Paypal (NASDAQ:PYPL) traded up $0.46 on Wednesday, hitting $74.08. 4,141,350 shares of the company’s stock traded hands, compared to its average volume of 7,886,361. Paypal has a twelve month low of $39.02 and a twelve month high of $79.39. The company has a market cap of $88,480.00 and a P/E ratio of 52.35.
In other news, Director Rodney C. Adkins acquired 6,750 shares of Paypal stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average cost of $74.04 per share, with a total value of $499,770.00. Following the transaction, the director now directly owns 10,149 shares of the company’s stock, valued at approximately $751,431.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. AXA increased its position in shares of Paypal by 68.4% during the third quarter. AXA now owns 382,248 shares of the credit services provider’s stock worth $24,475,000 after acquiring an additional 155,268 shares during the period. Shelton Capital Management increased its position in shares of Paypal by 1.2% during the third quarter. Shelton Capital Management now owns 103,253 shares of the credit services provider’s stock worth $6,611,000 after acquiring an additional 1,205 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in shares of Paypal during the third quarter worth approximately $735,000. Visionary Asset Management Inc. purchased a new position in shares of Paypal during the third quarter worth approximately $214,000. Finally, Cambridge Financial Group Inc. purchased a new position in shares of Paypal during the third quarter worth approximately $7,005,000. 80.81% of the stock is currently owned by institutional investors.
Paypal 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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