Vetr Inc. Downgrades PayPal Holdings, Inc. (NASDAQ:PYPL) to Sell

Vetr lowered shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a hold rating to a sell rating in a research report sent to investors on Monday morning. Vetr currently has $56.88 price objective on the credit services provider’s stock.

PYPL has been the subject of several other research reports. Zacks Investment Research upgraded shares of PayPal Holdings from a hold rating to a buy rating and set a $64.00 price target for the company in a report on Wednesday, July 19th. SunTrust Banks, Inc. lowered shares of PayPal Holdings from a buy rating to a hold rating and set a $60.00 price target for the company. in a report on Wednesday, July 19th. They noted that the move was a valuation call. Piper Jaffray Companies boosted their price target on shares of PayPal Holdings and gave the company a neutral rating in a report on Friday, July 14th. Jefferies Group LLC restated a buy rating and issued a $61.00 price target on shares of PayPal Holdings in a report on Friday, July 14th. Finally, Citigroup Inc. restated a positive rating and issued a $67.00 price target (up previously from $55.00) on shares of PayPal Holdings in a report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-eight have issued a buy rating and two have issued a strong buy rating to the company. PayPal Holdings currently has a consensus rating of Buy and an average target price of $54.61.

PayPal Holdings (NASDAQ:PYPL) opened at 58.58 on Monday. PayPal Holdings has a 52 week low of $36.28 and a 52 week high of $59.38. The company has a market cap of $70.37 billion, a P/E ratio of 50.07 and a beta of 0.95. The firm’s 50 day moving average is $54.62 and its 200-day moving average is $46.83.

PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings data on Wednesday, April 26th. The credit services provider reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.94 billion. PayPal Holdings had a net margin of 12.60% and a return on equity of 10.78%. PayPal Holdings’s quarterly revenue was up 16.9% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. On average, analysts predict that PayPal Holdings will post $1.78 earnings per share for the current fiscal year.

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PayPal Holdings announced that its board has approved a stock repurchase plan on Wednesday, April 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the credit services provider to purchase up to 9.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Gail J. Mcgovern sold 1,800 shares of the stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $53.97, for a total transaction of $97,146.00. Following the sale, the director now directly owns 12,647 shares of the company’s stock, valued at $682,558.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,350 shares of the stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $52.48, for a total transaction of $70,848.00. Following the sale, the executive vice president now directly owns 37,491 shares in the company, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold a total of 4,501 shares of company stock worth $240,989 over the last ninety days. Insiders own 6.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in PYPL. Benjamin F. Edwards & Company Inc. increased its stake in shares of PayPal Holdings by 236.4% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 14,586 shares of the credit services provider’s stock worth $627,000 after buying an additional 10,250 shares during the period. Comerica Bank increased its stake in shares of PayPal Holdings by 2.3% in the first quarter. Comerica Bank now owns 466,588 shares of the credit services provider’s stock worth $21,999,000 after buying an additional 10,270 shares during the period. Clean Yield Group purchased a new stake in shares of PayPal Holdings during the first quarter worth about $127,000. Checchi Capital Advisers LLC increased its stake in shares of PayPal Holdings by 8.6% in the first quarter. Checchi Capital Advisers LLC now owns 12,907 shares of the credit services provider’s stock worth $555,000 after buying an additional 1,025 shares during the period. Finally, Wealthfront Inc. increased its stake in shares of PayPal Holdings by 4.1% in the fourth quarter. Wealthfront Inc. now owns 30,944 shares of the credit services provider’s stock worth $1,221,000 after buying an additional 1,214 shares during the period. 81.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for PayPal Holdings (NASDAQ:PYPL)

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