Paypal (NASDAQ:PYPL)‘s stock had its “buy” rating restated by research analysts at Cantor Fitzgerald in a research note issued on Wednesday, AnalystRatings.com reports.
The analysts wrote, “: We maintain our Overweight rating on PayPal and PT of $122. We attended its Analyst gathering in NYC on 4/30 4pm. Our takeaway is PYPL is starting to fire on a lot of cylinders (prob. more new ones to come), as the company is finding a way to expand its avenues of growth while expanding its margins.””
A number of other equities research analysts have also recently commented on the company. Oppenheimer increased their price target on Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Barclays reiterated an “overweight” rating and issued a $115.00 price target (up from $110.00) on shares of Paypal in a research note on Monday, January 7th. BidaskClub upgraded Paypal from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 9th. Zacks Investment Research cut Paypal from a “hold” rating to a “sell” rating in a research note on Tuesday, March 12th. Finally, BTIG Research increased their price target on Paypal to $114.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $107.18.
Paypal (NASDAQ:PYPL) last issued its quarterly earnings data on Wednesday, April 24th. The credit services provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.11. Paypal had a return on equity of 15.50% and a net margin of 13.92%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. During the same period in the prior year, the business posted $0.57 EPS. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. Analysts predict that Paypal will post 2.24 EPS for the current year.
In other news, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $91.49, for a total value of $2,744,700.00. Following the transaction, the insider now owns 304,826 shares in the company, valued at $27,888,530.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gary J. Marino sold 2,017 shares of the firm’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $91.11, for a total value of $183,768.87. Following the completion of the transaction, the insider now owns 42,317 shares in the company, valued at approximately $3,855,501.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 326,538 shares of company stock worth $32,895,306. 0.15% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PYPL. Nordea Investment Management AB lifted its position in shares of Paypal by 16.8% in the third quarter. Nordea Investment Management AB now owns 451,992 shares of the credit services provider’s stock valued at $39,704,000 after acquiring an additional 65,076 shares in the last quarter. B. Riley Wealth Management Inc. purchased a new position in Paypal during the third quarter worth approximately $902,000. Legal & General Group Plc lifted its position in Paypal by 0.5% during the third quarter. Legal & General Group Plc now owns 4,932,083 shares of the credit services provider’s stock worth $433,235,000 after buying an additional 22,455 shares in the last quarter. Morgan Stanley lifted its position in Paypal by 57.3% during the third quarter. Morgan Stanley now owns 10,450,968 shares of the credit services provider’s stock worth $918,012,000 after buying an additional 3,805,346 shares in the last quarter. Finally, Great Lakes Advisors LLC lifted its position in Paypal by 9.0% during the third quarter. Great Lakes Advisors LLC now owns 27,646 shares of the credit services provider’s stock worth $2,428,000 after buying an additional 2,285 shares in the last quarter. Institutional investors and hedge funds own 81.47% of the company’s stock.
Paypal Company Profile
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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