Bank of America Reaffirms Buy Rating for Paypal (NASDAQ:PYPL)

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Bank of America reissued their buy rating on shares of Paypal (NASDAQ:PYPL) in a research report released on Friday, BenzingaRatingsTable reports. They currently have a $127.00 price target on the credit services provider’s stock, down from their previous price target of $131.00.

Other equities research analysts have also issued research reports about the company. Guggenheim raised Paypal from a sell rating to a neutral rating in a research note on Tuesday, August 13th. Berenberg Bank reissued a buy rating and set a $125.00 price target on shares of Paypal in a research note on Friday, July 26th. BTIG Research set a $130.00 price target on Paypal and gave the stock a buy rating in a research note on Wednesday, July 24th. Wells Fargo & Co lifted their price objective on Paypal from $120.00 to $135.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Finally, Robert W. Baird lifted their price objective on Paypal from $118.00 to $120.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Eight equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $122.17.

Shares of PYPL opened at $107.00 on Friday. Paypal has a twelve month low of $74.66 and a twelve month high of $121.48. The stock’s 50 day moving average is $107.90 and its two-hundred day moving average is $109.06. The firm has a market capitalization of $126.02 billion, a PE ratio of 59.78, a P/E/G ratio of 2.47 and a beta of 0.98.

Paypal (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 24th. The credit services provider reported $0.68 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.12. Paypal had a return on equity of 17.14% and a net margin of 15.36%. The company had revenue of $4.31 billion for the quarter, compared to analyst estimates of $4.33 billion. During the same quarter in the previous year, the company earned $0.58 EPS. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. On average, equities analysts predict that Paypal will post 2.41 EPS for the current fiscal year.

In other Paypal news, EVP Aaron Karczmer sold 3,110 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $115.71, for a total value of $359,858.10. Following the completion of the transaction, the executive vice president now directly owns 15,041 shares in the company, valued at approximately $1,740,394.11. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Daniel H. Schulman sold 30,000 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $107.09, for a total value of $3,212,700.00. Following the completion of the transaction, the chief executive officer now owns 487,074 shares of the company’s stock, valued at $52,160,754.66. The disclosure for this sale can be found here. Insiders sold a total of 132,417 shares of company stock valued at $14,511,700 over the last quarter. 0.15% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in PYPL. Nuveen Asset Management LLC increased its holdings in shares of Paypal by 6,747.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 18,861,956 shares of the credit services provider’s stock worth $2,158,939,000 after buying an additional 18,586,493 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Paypal by 37.9% during the 2nd quarter. Invesco Ltd. now owns 20,557,665 shares of the credit services provider’s stock worth $2,353,030,000 after buying an additional 5,654,831 shares during the last quarter. FMR LLC increased its holdings in shares of Paypal by 3.8% during the 1st quarter. FMR LLC now owns 82,843,184 shares of the credit services provider’s stock worth $8,602,436,000 after buying an additional 3,002,568 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Paypal by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 89,109,876 shares of the credit services provider’s stock worth $10,199,516,000 after buying an additional 1,274,702 shares during the last quarter. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Paypal during the 2nd quarter worth $143,579,000. Institutional investors and hedge funds own 81.01% 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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