Analysts at Berenberg Bank initiated coverage on shares of Paypal (NASDAQ:PYPL) in a report released on Thursday, The Fly reports. The firm set a “buy” rating on the credit services provider’s stock.
Other analysts have also issued reports about the company. Wells Fargo & Co raised their target price on Paypal from $95.00 to $101.00 and gave the stock an “outperform” rating in a report on Thursday, July 26th. Atlantic Securities raised Paypal from a “neutral” rating to an “overweight” rating and set a $43.00 target price on the stock in a report on Thursday, June 21st. Credit Suisse Group raised their target price on Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a report on Thursday, July 19th. Wedbush reaffirmed an “outperform” rating on shares of Paypal in a report on Monday, May 28th. Finally, Wolfe Research began coverage on Paypal in a report on Tuesday, July 17th. They set an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating and thirty-five have assigned a buy rating to the company’s stock. Paypal currently has an average rating of “Buy” and an average price target of $88.94.
Paypal stock opened at $92.62 on Thursday. Paypal has a one year low of $59.63 and a one year high of $92.94. The stock has a market capitalization of $106.50 billion, a price-to-earnings ratio of 66.63, a price-to-earnings-growth ratio of 2.97 and a beta of 1.25.
Paypal (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period last year, the business posted $0.46 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. equities research analysts predict that Paypal will post 1.72 EPS for the current year.
In other news, COO William J. Ready sold 38,878 shares of Paypal stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $3,429,817.16. Following the sale, the chief operating officer now directly owns 119,215 shares of the company’s stock, valued at $10,517,147.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Aaron Anderson sold 17,062 shares of Paypal stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total value of $1,505,209.64. Following the completion of the sale, the vice president now directly owns 9,921 shares in the company, valued at $875,230.62. The disclosure for this sale can be found here. Insiders sold 123,732 shares of company stock worth $10,641,077 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.
Several large investors have recently modified their holdings of the company. Archford Capital Strategies LLC lifted its position in Paypal by 92.6% during the second quarter. Archford Capital Strategies LLC now owns 1,300 shares of the credit services provider’s stock worth $108,000 after buying an additional 625 shares in the last quarter. Jacobi Capital Management LLC lifted its position in Paypal by 122.4% during the first quarter. Jacobi Capital Management LLC now owns 1,461 shares of the credit services provider’s stock worth $110,000 after buying an additional 804 shares in the last quarter. QCI Asset Management Inc. NY lifted its position in Paypal by 160.6% during the first quarter. QCI Asset Management Inc. NY now owns 1,574 shares of the credit services provider’s stock worth $119,000 after buying an additional 970 shares in the last quarter. Well Done LLC purchased a new position in Paypal during the first quarter worth approximately $128,000. Finally, Landaas & Co. WI ADV purchased a new position in Paypal during the second quarter worth approximately $135,000. 79.60% of the stock is currently owned by hedge funds and other institutional investors.
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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