Zacks Investment Research upgraded shares of Paypal (NASDAQ:PYPL) from a hold rating to a buy rating in a report released on Wednesday, December 20th. The brokerage currently has $84.00 price target on the credit services provider’s stock.
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. Year to date, the stock has outperformed the industry it belongs to.”
Several other research firms have also commented on PYPL. Barclays reissued a buy rating on shares of Paypal in a research report on Tuesday, November 21st. Canaccord Genuity reissued a hold rating and set a $66.00 price target on shares of Paypal in a research report on Thursday, November 16th. Robert W. Baird increased their price target on shares of Paypal from $80.00 to $85.00 and gave the company an outperform rating in a research report on Thursday, November 16th. Vetr lowered shares of Paypal from a buy rating to a hold rating and set a $78.63 price target for the company. in a research report on Friday, November 17th. Finally, KeyCorp reissued an overweight rating and set a $85.00 price target (up from $80.00) on shares of Paypal in a research report on Friday, November 17th. Ten equities research analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $76.05.
Paypal (NASDAQ:PYPL) traded up $0.79 during trading hours on Wednesday, reaching $80.54. 6,890,000 shares of the company were exchanged, compared to its average volume of 9,320,000. Paypal has a 52 week low of $39.02 and a 52 week high of $80.77. The stock has a market capitalization of $96,800.00 and a price-to-earnings ratio of 62.92.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Thursday, October 19th. The credit services provider reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business 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%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. sell-side analysts predict that Paypal will post 1.37 EPS for the current fiscal year.
In related 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 purchased at an average price of $74.04 per share, with a total value of $499,770.00. Following the purchase, the director now owns 10,149 shares of the company’s stock, valued at $751,431.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Paypal by 0.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 416,860 shares of the credit services provider’s stock valued at $30,689,000 after purchasing an additional 3,330 shares in the last quarter. Broadleaf Partners LLC purchased a new position in Paypal in the 4th quarter valued at $5,860,000. Mitchell Sinkler & Starr PA purchased a new position in Paypal in the 4th quarter valued at $223,000. First National Bank Sioux Falls purchased a new position in Paypal in the 4th quarter valued at $201,000. Finally, Grassi Investment Management lifted its holdings in Paypal by 54.5% in the 4th quarter. Grassi Investment Management now owns 4,943 shares of the credit services provider’s stock valued at $364,000 after purchasing an additional 1,743 shares in the last quarter. 80.73% of the stock is currently owned by hedge funds and other institutional investors.
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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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