PayPal Holdings, Inc. (PYPL) Downgraded to Sell at Vetr Inc.
Vetr cut shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from a hold rating to a sell rating in a research note released on Monday, July 24th. They currently have $56.88 price target on the credit services provider’s stock.
A number of other equities analysts have also recently commented on the company. Piper Jaffray Companies lowered their target price on PayPal Holdings from $32.00 to $29.00 and set a hold rating for the company in a report on Monday, April 17th. Zacks Investment Research cut PayPal Holdings from a hold rating to a sell rating in a report on Thursday, April 27th. Robert W. Baird raised their target price on PayPal Holdings from $48.00 to $53.00 and gave the company an outperform rating in a report on Friday, April 28th. Cantor Fitzgerald restated a buy rating and set a $53.00 target price (up from $48.00) on shares of PayPal Holdings in a report on Thursday, April 27th. Finally, BidaskClub upgraded PayPal Holdings from a buy rating to a strong-buy rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $59.49.
Shares of PayPal Holdings (NASDAQ PYPL) traded up 0.25% during midday trading on Monday, reaching $59.44. 4,653,341 shares of the company traded hands. PayPal Holdings has a 1-year low of $36.30 and a 1-year high of $61.30. The stock has a 50 day moving average price of $57.84 and a 200 day moving average price of $49.13. The firm has a market capitalization of $71.47 billion, a PE ratio of 47.94 and a beta of 0.99. PayPal Holdings also was the target of unusually large options trading on Wednesday. Stock traders acquired 3,225 call options on the company. This represents an increase of 657% compared to the typical volume of 426 call options.
PayPal Holdings (NASDAQ:PYPL) last released its quarterly earnings results on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. PayPal Holdings had a return on equity of 11.10% and a net margin of 12.82%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.36 EPS. Analysts expect that PayPal Holdings will post $1.83 earnings per share for the current fiscal year.
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PayPal Holdings announced that its Board of Directors has authorized a stock buyback program on Wednesday, April 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the credit services provider to buy up to 9.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In related news, EVP Gary J. Marino sold 1,351 shares of the 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 owns 37,491 shares of the company’s stock, valued at $2,025,638.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gary J. Marino sold 1,350 shares of the 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 approximately $1,967,527.68. The disclosure for this sale can be found here. Insiders sold 265,852 shares of company stock valued at $15,543,798 in the last ninety days. Company insiders own 6.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Thompson Davis & CO. Inc. increased its position in shares of PayPal Holdings by 36.7% in the first quarter. Thompson Davis & CO. Inc. now owns 2,415 shares of the credit services provider’s stock worth $104,000 after buying an additional 649 shares in the last quarter. Crestwood Advisors Group LLC acquired a new position in shares of PayPal Holdings during the first quarter worth approximately $106,000. Carroll Financial Associates Inc. increased its position in shares of PayPal Holdings by 41.7% in the first quarter. Carroll Financial Associates Inc. now owns 2,516 shares of the credit services provider’s stock worth $108,000 after buying an additional 740 shares in the last quarter. Stelac Advisory Services LLC purchased a new position in PayPal Holdings during the first quarter worth approximately $119,000. Finally, West Oak Capital LLC increased its position in PayPal Holdings by 23.9% in the first quarter. West Oak Capital LLC now owns 2,850 shares of the credit services provider’s stock worth $123,000 after buying an additional 550 shares in the last quarter. 81.54% of the stock is 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.
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