PayPal (NASDAQ:PYPL) Given Hold Rating at BTIG Research
“the headline takeaway from PayPal Holdings’ (PYPL, Day held earlier today in San Francisco was management’s call for revenue growth to be sustained at strong levels and for non-GAAP earnings per share growth to accelerate over the next 3-5 years, the company provided plenty of other newsy items during the course of an almost five-hour presentation in support of their bullish forecast. With that said, a modest rally in PYPL shares during today’s trading session that picked up steam after CFO John Rainey announced management’s medium-term forecast sputtered into the close, a lackluster reaction to the bullish commentary. We believe the stock’s tepid response to good news could be attributed in large part to the fact that its shares trade at 16.9x FY20E adjusted EBITDA – a valuation that already reflects lofty growth expectations.”,” the firm’s analyst wrote.
A number of other equities analysts have also weighed in on PYPL. Wedbush raised PayPal from a hold rating to a buy rating and set a $90.00 target price on the stock in a research report on Friday, May 25th. Oppenheimer upped their target price on PayPal from $85.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, May 25th. Cantor Fitzgerald reaffirmed an overweight rating and set a $93.00 target price on shares of PayPal in a research report on Friday, May 25th. Stifel Nicolaus raised PayPal from a hold rating to a buy rating and upped their target price for the stock from $82.00 to $99.00 in a research report on Friday, May 25th. Finally, BidaskClub raised PayPal from a buy rating to a strong-buy rating in a research report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $83.14.
PayPal (NASDAQ:PYPL) last posted its quarterly earnings results on Wednesday, April 25th. The credit services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.59 billion. PayPal had a return on equity of 12.35% and a net margin of 13.92%. The company’s revenue for the quarter was up 23.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 EPS. sell-side analysts expect that PayPal will post 1.71 earnings per share for the current fiscal year.
In other news, CEO Daniel H. Schulman sold 26,000 shares of the stock in a transaction on Thursday, May 31st. The stock was sold at an average price of $82.21, for a total transaction of $2,137,460.00. Following the completion of the transaction, the chief executive officer now owns 353,297 shares in the company, valued at approximately $29,044,546.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO John D. Rainey sold 5,462 shares of the stock in a transaction on Friday, April 27th. The stock was sold at an average price of $75.63, for a total value of $413,091.06. The disclosure for this sale can be found here. Insiders have sold a total of 192,482 shares of company stock valued at $14,689,631 in the last quarter. 0.20% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in PayPal by 0.8% in the 1st quarter. BlackRock Inc. now owns 69,989,077 shares of the credit services provider’s stock worth $5,310,073,000 after purchasing an additional 584,312 shares during the period. Edgewood Management LLC boosted its stake in PayPal by 4.3% in the 1st quarter. Edgewood Management LLC now owns 16,052,176 shares of the credit services provider’s stock worth $1,217,879,000 after purchasing an additional 657,212 shares during the period. TIAA CREF Investment Management LLC boosted its stake in PayPal by 5.6% in the 4th quarter. TIAA CREF Investment Management LLC now owns 12,194,144 shares of the credit services provider’s stock worth $897,733,000 after purchasing an additional 647,237 shares during the period. Geode Capital Management LLC boosted its stake in PayPal by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 12,165,443 shares of the credit services provider’s stock worth $893,768,000 after purchasing an additional 629,582 shares during the period. Finally, OppenheimerFunds Inc. boosted its stake in PayPal by 2.8% in the 1st quarter. OppenheimerFunds Inc. now owns 9,306,548 shares of the credit services provider’s stock worth $706,089,000 after purchasing an additional 257,057 shares during the period. Institutional investors own 78.22% of the company’s stock.
PayPal Company Profile
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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