Paypal (PYPL) Given “Buy” Rating at Bank of America

Paypal (NASDAQ:PYPL)‘s stock had its “buy” rating reaffirmed by investment analysts at Bank of America in a report released on Friday. They currently have a $116.00 price target on the credit services provider’s stock, up from their previous price target of $102.00. Bank of America‘s target price indicates a potential upside of 15.22% from the stock’s previous close.

A number of other brokerages have also recently commented on PYPL. Guggenheim cut Paypal from a “buy” rating to a “neutral” rating and set a $90.82 price target on the stock. in a research note on Wednesday, February 6th. Zacks Investment Research raised Paypal from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. BidaskClub cut Paypal from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 7th. BTIG Research boosted their target price on Paypal to $114.00 and gave the company a “buy” rating in a research note on Tuesday, February 19th. Finally, Barclays reissued an “overweight” rating and set a $115.00 target price (up from $110.00) on shares of Paypal in a research note on Monday, January 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $98.47.

Paypal stock traded up $1.64 during trading hours on Friday, reaching $100.68. The company had a trading volume of 3,528,509 shares, compared to its average volume of 7,904,863. The stock has a market capitalization of $116.18 billion, a P/E ratio of 56.24, a price-to-earnings-growth ratio of 2.54 and a beta of 1.03. Paypal has a 12-month low of $70.22 and a 12-month high of $100.59.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, January 30th. The credit services provider reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.23 billion. Paypal had a return on equity of 14.67% and a net margin of 13.31%. The business’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.55 EPS. As a group, sell-side analysts forecast that Paypal will post 2.14 earnings per share for the current year.

In related news, CEO Daniel H. Schulman sold 22,764 shares of the company’s stock in a transaction on Thursday, December 27th. The stock was sold at an average price of $81.41, for a total transaction of $1,853,217.24. Following the completion of the sale, the chief executive officer now owns 312,590 shares in the company, valued at $25,447,951.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Daniel H. Schulman sold 30,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $96.09, for a total value of $2,882,700.00. Following the sale, the insider now owns 532,140 shares of the company’s stock, valued at approximately $51,133,332.60. The disclosure for this sale can be found here. Insiders sold 325,823 shares of company stock worth $30,176,386 over the last three months. Corporate insiders own 0.20% of the company’s stock.

A number of institutional investors have recently bought and sold shares of PYPL. Truehand Inc purchased a new stake in shares of Paypal during the fourth quarter worth about $25,000. Bruderman Asset Management LLC purchased a new stake in shares of Paypal during the fourth quarter worth about $27,000. Karp Capital Management Corp bought a new position in Paypal during the fourth quarter valued at approximately $37,000. Virtus ETF Advisers LLC boosted its stake in Paypal by 33.7% during the fourth quarter. Virtus ETF Advisers LLC now owns 448 shares of the credit services provider’s stock valued at $38,000 after buying an additional 113 shares during the last quarter. Finally, WESPAC Advisors SoCal LLC boosted its stake in Paypal by 116.0% during the fourth quarter. WESPAC Advisors SoCal LLC now owns 486 shares of the credit services provider’s stock valued at $41,000 after buying an additional 261 shares during the last quarter. Institutional investors own 81.80% of the company’s stock.

About Paypal

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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Analyst Recommendations for Paypal (NASDAQ:PYPL)

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