Paypal (NASDAQ:PYPL) Issues Q3 Earnings Guidance
Paypal (NASDAQ:PYPL) updated its third quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.69-0.71 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.69. The company issued revenue guidance of $4330-4380 million, compared to the consensus revenue estimate of $4.45 billion.Paypal also updated its FY 2019 guidance to $3.12-3.17 EPS.
A number of equities research analysts recently commented on the stock. Oppenheimer upped their price target on shares of Facebook from $225.00 to $230.00 and gave the company an outperform rating in a report on Thursday. Craig Hallum lowered shares of MarineMax from a buy rating to a hold rating in a report on Thursday. Morgan Stanley upped their price objective on shares of Williams-Sonoma from $52.00 to $56.00 and gave the stock an underweight rating in a report on Wednesday, July 10th. BTIG Research restated a hold rating on shares of Varian Medical Systems in a report on Wednesday. Finally, BidaskClub upgraded shares of Kandi Technologies Group from a strong sell rating to a sell rating in a report on Friday, May 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $119.03.
Shares of Paypal stock traded up $0.37 during trading on Friday, hitting $115.49. The company’s stock had a trading volume of 7,995,085 shares, compared to its average volume of 5,478,520. The business’s fifty day moving average price is $117.00. The firm has a market capitalization of $135.26 billion, a P/E ratio of 64.52, a PEG ratio of 2.82 and a beta of 0.98. Paypal has a 52 week low of $74.66 and a 52 week high of $121.48.
In related news, EVP Adele Louise Pentland sold 11,520 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $109.07, for a total transaction of $1,256,486.40. Following the sale, the executive vice president now directly owns 63,408 shares of the company’s stock, valued at approximately $6,915,910.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 30,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $109.73, for a total transaction of $3,291,900.00. Following the sale, the insider now directly owns 538,821 shares in the company, valued at $59,124,828.33. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,250 shares of company stock valued at $12,245,960. 0.15% of the stock is owned by company insiders.
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company's Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.
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