PayPal (NASDAQ:PYPL) – Wedbush cut their Q2 2019 earnings estimates for shares of PayPal in a research report issued on Wednesday, April 18th. Wedbush analyst M. Katri now expects that the credit services provider will earn $0.55 per share for the quarter, down from their prior forecast of $0.56. Wedbush also issued estimates for PayPal’s Q3 2019 earnings at $0.54 EPS, Q4 2019 earnings at $0.57 EPS and FY2019 earnings at $2.13 EPS.
PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. PayPal had a net margin of 13.71% and a return on equity of 11.59%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the firm posted $0.42 EPS. The company’s revenue was up 25.6% on a year-over-year basis.
A number of other equities research analysts have also issued reports on the stock. Sanford C. Bernstein began coverage on shares of PayPal in a report on Tuesday, March 27th. They set a “market perform” rating and a $82.00 price objective for the company. Nomura increased their price objective on shares of PayPal to $97.00 and gave the company a “buy” rating in a report on Thursday, March 15th. Credit Suisse Group cut their target price on shares of PayPal from $91.00 to $88.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Zacks Investment Research lowered shares of PayPal from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Finally, Wells Fargo raised shares of PayPal from a “market perform” rating to an “outperform” rating and set a $70.00 target price for the company in a report on Monday, February 5th. Ten equities research 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 presently has a consensus rating of “Buy” and an average target price of $78.28.
Shares of PYPL opened at $79.68 on Friday. PayPal has a 1 year low of $43.26 and a 1 year high of $86.32. The company has a market cap of $95,378.12, a price-to-earnings ratio of 57.32, a P/E/G ratio of 2.65 and a beta of 1.28.
Several hedge funds have recently added to or reduced their stakes in PYPL. Jennison Associates LLC raised its holdings in shares of PayPal by 117.3% in the fourth quarter. Jennison Associates LLC now owns 16,354,298 shares of the credit services provider’s stock valued at $1,204,003,000 after acquiring an additional 8,827,558 shares in the last quarter. BlackRock Inc. raised its holdings in shares of PayPal by 6.6% in the fourth quarter. BlackRock Inc. now owns 69,404,765 shares of the credit services provider’s stock valued at $5,109,580,000 after acquiring an additional 4,324,405 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of PayPal by 211.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,404,830 shares of the credit services provider’s stock valued at $324,284,000 after acquiring an additional 2,990,330 shares in the last quarter. Alliancebernstein L.P. grew its stake in PayPal by 65.2% in the fourth quarter. Alliancebernstein L.P. now owns 5,270,533 shares of the credit services provider’s stock valued at $388,017,000 after purchasing an additional 2,079,780 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in PayPal in the fourth quarter valued at about $81,205,000. Hedge funds and other institutional investors own 80.58% of the company’s stock.
In related news, insider Daniel H. Schulman sold 26,000 shares of PayPal stock in a transaction dated Thursday, March 29th. The stock was sold at an average price of $75.90, for a total value of $1,973,400.00. Following the completion of the sale, the insider now directly owns 346,300 shares in the company, valued at $26,284,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David M. Moffett sold 3,808 shares of PayPal stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $77.86, for a total value of $296,490.88. Following the completion of the sale, the director now owns 66,320 shares of the company’s stock, valued at $5,163,675.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 222,413 shares of company stock valued at $17,321,428. Corporate insiders own 6.00% of the company’s stock.
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PayPal Holdings, Inc operates as a technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. Its payment solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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