PayPal Holdings, Inc. (NASDAQ:PYPL) had its price target lifted by Jefferies Group LLC to $80.00 in a research report issued to clients and investors on Friday. The firm currently has a “buy” rating on the credit services provider’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 16.18% from the company’s current price.
Several other brokerages have also issued reports on PYPL. Credit Suisse Group reaffirmed an “outperform” rating and set a $70.00 target price (up from $63.00) on shares of PayPal Holdings in a research report on Tuesday. Sanford C. Bernstein raised PayPal Holdings from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $46.00 to $61.00 in a research report on Monday, July 10th. Stephens reaffirmed an “overweight” rating and set a $59.00 target price (up from $51.00) on shares of PayPal Holdings in a research report on Monday, June 19th. Loop Capital reaffirmed a “hold” rating and set a $49.00 target price on shares of PayPal Holdings in a research report on Wednesday, July 12th. Finally, Citigroup Inc. raised their target price on PayPal Holdings to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $63.59.
PayPal Holdings (NASDAQ:PYPL) last announced its earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The business had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. PayPal Holdings’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS.
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In related news, Director John J. Donahoe sold 170,000 shares of PayPal Holdings stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total value of $9,890,600.00. Following the sale, the director now owns 124,516 shares of the company’s stock, valued at approximately $7,244,340.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO William J. Ready sold 90,000 shares of PayPal Holdings stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.25, for a total transaction of $5,332,500.00. Following the completion of the sale, 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. Insiders sold a total of 261,351 shares of company stock worth $15,302,809 in the last ninety days. 6.00% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in PayPal Holdings by 0.9% during the 2nd quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock valued at $99,318,000 after acquiring an additional 17,139 shares during the period. Shikiar Asset Management Inc. raised its holdings in PayPal Holdings by 2,671.9% during the 2nd quarter. Shikiar Asset Management Inc. now owns 141,365 shares of the credit services provider’s stock valued at $7,587,000 after acquiring an additional 136,265 shares during the period. Smith Asset Management Group LP bought a new stake in PayPal Holdings during the 2nd quarter valued at $50,648,000. GAM Holding AG raised its holdings in PayPal Holdings by 14.3% during the 2nd quarter. GAM Holding AG now owns 225,782 shares of the credit services provider’s stock valued at $12,118,000 after acquiring an additional 28,265 shares during the period. Finally, BB&T Securities LLC raised its holdings in PayPal Holdings by 24.2% during the 2nd quarter. BB&T Securities LLC now owns 170,765 shares of the credit services provider’s stock valued at $9,164,000 after acquiring an additional 33,268 shares during the period. 82.47% of the stock is currently owned by 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.
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