Paypal (PYPL) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Paypal (NASDAQ:PYPL) from a buy rating to a hold rating in a report issued on Tuesday, January 2nd.

According to Zacks, “PayPal is currently riding on partnerships and mobile centrism. The company continues to perform strongly in global payments, especially mobile. PayPal’s ongoing strategic partnerships with Visa and MasterCard offer great flexibility and choice to consumers. It recently extended its partnership with Mastercard (MA) in Europe, Latin America, Canada, Africa, the Caribbean and the Middle East. Partnerships with Google, Facebook, Pinterest, Alibaba, Intuit and other major retailers and financial institutions are also delivering positive results. However, continuous exposure to foreign exchange and interest rate risks are concerns. Over the last one year, the stock has outperformed the industry it belongs to.”

Several other research analysts have also issued reports on the stock. Credit Suisse Group reiterated an outperform rating and issued a $85.00 price target (up from $74.00) on shares of Paypal in a research note on Friday, November 17th. Barclays raised their price objective on shares of Paypal from $75.00 to $78.00 and gave the company an overweight rating in a research note on Friday, October 20th. Citigroup restated a buy rating and set a $87.00 price objective on shares of Paypal in a research note on Friday, November 17th. Argus raised their price objective on shares of Paypal from $80.00 to $87.00 and gave the company a buy rating in a research note on Friday, November 17th. Finally, KeyCorp restated a buy rating and set a $90.00 price objective on shares of Paypal in a research note on Friday, December 1st. Ten investment analysts have rated the stock with a hold rating, thirty-three have issued 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 price target of $76.05.

Shares of Paypal (PYPL) traded up $0.38 during trading on Tuesday, hitting $79.75. 6,267,400 shares of the company traded hands, compared to its average volume of 8,476,688. The company has a market cap of $96,620.00 and a price-to-earnings 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 issued its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Paypal had a net margin of 12.69% and a return on equity of 11.33%. Paypal’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same period last year, the business earned $0.35 EPS. analysts predict that Paypal will post 1.37 EPS for the current fiscal year.

In other Paypal news, Director Rodney C. Adkins acquired 6,750 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $74.04 per share, with a total value of $499,770.00. Following the completion of the acquisition, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of PYPL. San Francisco Sentry Investment Group CA raised its stake in Paypal by 352.8% during the 3rd quarter. San Francisco Sentry Investment Group CA now owns 1,562 shares of the credit services provider’s stock worth $100,000 after acquiring an additional 1,217 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Paypal during the 3rd quarter worth approximately $113,000. Kistler Tiffany Companies LLC raised its stake in Paypal by 511.9% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 2,013 shares of the credit services provider’s stock worth $129,000 after acquiring an additional 1,684 shares during the period. Harvest Fund Management Co. Ltd raised its stake in Paypal by 171.4% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 2,863 shares of the credit services provider’s stock worth $154,000 after acquiring an additional 1,808 shares during the period. Finally, Thompson Davis & CO. Inc. raised its stake in Paypal by 294.3% during the 3rd quarter. Thompson Davis & CO. Inc. now owns 2,421 shares of the credit services provider’s stock worth $155,000 after acquiring an additional 1,807 shares during the period. 80.73% of the stock is currently owned by institutional investors.

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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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