PayPal Holdings, Inc. (PYPL) Given “Buy” Rating at Deutsche Bank AG
Deutsche Bank AG reissued their buy rating on shares of PayPal Holdings, Inc. (NASDAQ:PYPL) in a research note published on Tuesday morning. The firm currently has a $77.00 price target on the credit services provider’s stock, up from their previous price target of $64.00.
Several other brokerages have also recently commented on PYPL. Sanford C. Bernstein upgraded shares of PayPal Holdings from a market perform rating to an outperform rating and lifted their price target for the stock from $46.00 to $61.00 in a research report on Monday, July 10th. Stephens restated an overweight rating and issued a $59.00 price objective (up from $51.00) on shares of PayPal Holdings in a report on Monday, June 19th. Loop Capital restated a hold rating and issued a $49.00 price objective on shares of PayPal Holdings in a report on Wednesday, July 12th. Citigroup Inc. raised their price objective on shares of PayPal Holdings to $77.00 and gave the company a buy rating in a research note on Tuesday. Finally, Barclays PLC raised their price objective on shares of PayPal Holdings from $63.00 to $66.00 and gave the company an overweight rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus price target of $61.83.
PayPal Holdings (NASDAQ:PYPL) traded down 0.273% during midday trading on Tuesday, hitting $64.045. The stock had a trading volume of 2,606,049 shares. PayPal Holdings has a one year low of $38.06 and a one year high of $65.24. The stock’s 50-day moving average is $63.36 and its 200-day moving average is $63.36. The company has a market cap of $77.01 billion, a P/E ratio of 51.649 and a beta of 0.98.
PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The firm had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same period in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. Equities analysts predict that PayPal Holdings will post $1.84 EPS for the current fiscal year.
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In related news, Director John J. Donahoe sold 170,000 shares of PayPal Holdings stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the transaction, the director now owns 124,516 shares in the company, valued at $7,244,340.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William J. Ready sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now directly owns 29,252 shares in the company, valued at approximately $1,733,181. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 261,351 shares of company stock worth $15,302,809. 6.00% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in shares of PayPal Holdings by 36.1% during the 2nd quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock worth $4,415,371,000 after acquiring an additional 21,814,940 shares during the period. Vanguard Group Inc. increased its holdings in shares of PayPal Holdings by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock worth $4,173,311,000 after acquiring an additional 2,115,017 shares during the last quarter. BlackRock Inc. increased its holdings in shares of PayPal Holdings by 4.7% during the 2nd quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock worth $3,377,936,000 after acquiring an additional 2,835,027 shares during the last quarter. Edgewood Management LLC increased its holdings in shares of PayPal Holdings by 3.7% during the 1st quarter. Edgewood Management LLC now owns 18,568,508 shares of the credit services provider’s stock worth $798,817,000 after acquiring an additional 663,087 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of PayPal Holdings by 15.4% during the 1st quarter. Wellington Management Group LLP now owns 14,813,195 shares of the credit services provider’s stock worth $637,263,000 after acquiring an additional 1,982,305 shares during the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.
About PayPal Holdings
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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