FY2018 Earnings Estimate for PayPal Holdings, Inc. Issued By Wedbush (PYPL)
PayPal Holdings, Inc. (NASDAQ:PYPL) – Research analysts at Wedbush issued their FY2018 earnings estimates for PayPal Holdings in a research report issued on Wednesday. Wedbush analyst M. Katri expects that the credit services provider will post earnings per share of $1.77 for the year. Wedbush currently has a “Outperform” rating on the stock.
PYPL has been the topic of a number of other research reports. Jefferies Group LLC reissued a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a research report on Friday, April 28th. BidaskClub raised shares of PayPal Holdings from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $48.00 price target on shares of PayPal Holdings in a research report on Tuesday, April 4th. Stifel Nicolaus reissued a “buy” rating and issued a $49.00 price target on shares of PayPal Holdings in a research report on Sunday, April 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $52.00 price target on shares of PayPal Holdings in a research report on Saturday, April 29th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-eight have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $54.43.
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PayPal Holdings (NASDAQ:PYPL) opened at 58.67 on Friday. The stock has a market capitalization of $70.48 billion, a P/E ratio of 50.15 and a beta of 0.95. PayPal Holdings has a 52 week low of $36.28 and a 52 week high of $59.38. The stock has a 50 day moving average of $54.32 and a 200 day moving average of $46.52. PayPal Holdings also saw some unusual options trading activity on Wednesday. Stock traders bought 3,225 call options on the company. This is an increase of approximately 657% compared to the typical daily volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last announced its earnings results on Wednesday, April 26th. The credit services provider reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.33 by $0.01. The firm 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 revenue for the quarter was up 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share.
PayPal Holdings announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 26th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit services provider to repurchase up to 9.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, EVP Gary J. Marino sold 1,351 shares of PayPal Holdings stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $54.03, for a total value of $72,994.53. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gary J. Marino sold 1,350 shares of PayPal Holdings stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $52.48, for a total value of $70,848.00. Following the completion of the transaction, the executive vice president now directly owns 37,491 shares of the company’s stock, valued at $1,967,527.68. The disclosure for this sale can be found here. Insiders sold 4,501 shares of company stock valued at $240,989 over the last ninety days. 6.00% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in shares of PayPal Holdings by 2,792.8% in the first quarter. BlackRock Inc. now owns 60,103,922 shares of the credit services provider’s stock valued at $2,585,670,000 after buying an additional 58,026,239 shares in the last quarter. FMR LLC boosted its stake in shares of PayPal Holdings by 28.2% in the first quarter. FMR LLC now owns 60,453,931 shares of the credit services provider’s stock valued at $2,600,728,000 after buying an additional 13,296,056 shares in the last quarter. Epoch Investment Partners Inc. purchased a new stake in shares of PayPal Holdings during the first quarter valued at $116,856,000. Vanguard Group Inc. boosted its stake in shares of PayPal Holdings by 3.5% in the first quarter. Vanguard Group Inc. now owns 75,643,714 shares of the credit services provider’s stock valued at $3,254,192,000 after buying an additional 2,549,683 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of PayPal Holdings by 117.7% in the first quarter. Alliancebernstein L.P. now owns 4,169,635 shares of the credit services provider’s stock valued at $179,378,000 after buying an additional 2,254,074 shares in the last quarter. 81.53% of the stock is owned by institutional investors and hedge funds.
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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