Raymond James Financial, Inc. Increases PayPal Holdings, Inc. (PYPL) Price Target to $65.00
PayPal Holdings, Inc. (NASDAQ:PYPL) had its target price lifted by Raymond James Financial, Inc. from $52.00 to $65.00 in a research note published on Thursday. Raymond James Financial, Inc. currently has an outperform rating on the credit services provider’s stock.
Several other brokerages have also commented on PYPL. Royal Bank Of Canada raised their target price on shares of PayPal Holdings from $50.00 to $52.00 and gave the company an outperform rating in a research note on Thursday, April 27th. Monness Crespi & Hardt raised their target price on shares of PayPal Holdings from $50.00 to $54.00 and gave the company a buy rating in a research note on Thursday, April 27th. UBS AG reiterated a neutral rating and issued a $48.00 target price (up from $44.00) on shares of PayPal Holdings in a research note on Friday, April 28th. Vetr upgraded shares of PayPal Holdings from a hold rating to a buy rating and set a $51.23 target price on the stock in a research note on Wednesday, May 17th. Finally, Citigroup Inc. reiterated a buy rating and issued a $62.00 target price (up from $52.00) on shares of PayPal Holdings in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $59.49.
Shares of PayPal Holdings (NASDAQ:PYPL) traded down 0.600% during midday trading on Thursday, reaching $58.845. 2,962,565 shares of the company were exchanged. The stock has a market capitalization of $70.75 billion, a price-to-earnings ratio of 47.456 and a beta of 0.95. The company’s 50-day moving average price is $55.22 and its 200 day moving average price is $47.26. PayPal Holdings has a 52-week low of $36.28 and a 52-week high of $61.30.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.09 billion. During the same quarter in the prior year, the business posted $0.36 EPS. PayPal Holdings’s quarterly revenue was up 18.3% on a year-over-year basis. On average, equities analysts predict that PayPal Holdings will post $1.83 earnings per share for the current year.
PayPal Holdings announced that its board has authorized a stock repurchase plan on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to reacquire up to 9.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
In other PayPal Holdings news, EVP Gary J. Marino sold 1,351 shares of the firm’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $54.03, for a total value of $72,994.53. Following the completion of the sale, the executive vice president now owns 37,491 shares in the company, valued at approximately $2,025,638.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gail J. Mcgovern sold 1,800 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the completion of the sale, the director now 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 sold a total of 4,501 shares of company stock valued at $240,989 in the last 90 days. Corporate insiders own 6.00% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Thompson Davis & CO. Inc. boosted its stake in PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock valued at $104,000 after buying an additional 649 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in PayPal Holdings during the first quarter valued at $106,000. Carroll Financial Associates Inc. boosted its stake in PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock valued at $108,000 after buying an additional 740 shares during the last quarter. Stelac Advisory Services LLC bought a new stake in PayPal Holdings during the first quarter valued at $119,000. Finally, West Oak Capital LLC boosted its stake in PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock valued at $123,000 after buying an additional 550 shares during the last quarter. Hedge funds and other institutional investors own 81.26% of the company’s stock.
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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