Paypal (PYPL) Upgraded by Cowen to Outperform
Paypal (NASDAQ:PYPL) was upgraded by stock analysts at Cowen from a “market perform” rating to an “outperform” rating in a report released on Tuesday, Marketbeat reports. The firm currently has a $88.00 price objective on the credit services provider’s stock, up from their prior price objective of $79.05. Cowen’s price objective indicates a potential upside of 10.34% from the company’s previous close.
PYPL has been the subject of a number of other research reports. Wells Fargo & Co upped their price target on Paypal from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Craig Hallum set a $93.00 price target on Paypal and gave the stock a “buy” rating in a report on Monday, November 20th. Loop Capital upped their price target on Paypal from $57.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, October 20th. Vetr upgraded Paypal from a “hold” rating to a “buy” rating and set a $79.66 price target for the company in a report on Monday, November 20th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $68.00 price target (up previously from $57.00) on shares of Paypal in a report on Friday, October 13th. Ten research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Paypal has a consensus rating of “Buy” and a consensus price target of $76.05.
Paypal (NASDAQ:PYPL) traded up $0.38 during midday trading on Tuesday, reaching $79.75. The company’s stock had a trading volume of 6,261,126 shares, compared to its average volume of 9,410,000. The stock has a market cap of $95,850.00 and a PE ratio of 62.30. Paypal has a 52-week low of $39.02 and a 52-week high of $80.39.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Paypal had a return on equity of 11.33% and a net margin of 12.69%. Paypal’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 EPS. equities analysts predict that Paypal will post 1.37 EPS for the current fiscal year.
In other news, Director Rodney C. Adkins purchased 6,750 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were acquired at an average cost of $74.04 per share, with a total value of $499,770.00. Following the transaction, the director now owns 10,149 shares in the company, valued at approximately $751,431.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.00% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in shares of Paypal by 36.1% during the 2nd quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after acquiring an additional 21,814,940 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Paypal by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock valued at $4,173,311,000 after acquiring an additional 2,115,017 shares in the last quarter. BlackRock Inc. raised its position in shares of Paypal by 4.7% during the 2nd quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock valued at $3,377,936,000 after acquiring an additional 2,835,027 shares in the last quarter. Fundsmith LLP increased its position in Paypal by 6.8% in the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock worth $754,131,000 after buying an additional 889,976 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in Paypal by 0.7% in the second quarter. TIAA CREF Investment Management LLC now owns 12,608,026 shares of the credit services provider’s stock worth $676,673,000 after buying an additional 84,888 shares during the period. 80.73% of the stock is currently owned by institutional investors and hedge funds.
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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