PayPal Holdings, Inc. (PYPL) Price Target Increased to $88.00 by Analysts at Bank of America Corporation

PayPal Holdings, Inc. (NASDAQ:PYPL) had its price target hoisted by Bank of America Corporation from $80.00 to $88.00 in a report released on Monday morning. Bank of America Corporation currently has a buy rating on the credit services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Vetr cut shares of PayPal Holdings from a hold rating to a sell rating and set a $56.88 price objective on the stock. in a research note on Monday, July 24th. Jefferies Group LLC reissued a buy rating and set a $68.00 price target (up from $61.00) on shares of PayPal Holdings in a research report on Monday, July 24th. BTIG Research reissued a buy rating and set a $63.00 price target on shares of PayPal Holdings in a research report on Monday, July 24th. Deutsche Bank AG boosted their price objective on shares of PayPal Holdings from $61.00 to $64.00 and gave the company a buy rating in a research report on Thursday, July 27th. Finally, Nomura boosted their price objective on shares of PayPal Holdings from $57.00 to $68.00 and gave the company a buy rating in a research report on Thursday, July 27th. Ten equities research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $73.11.

PayPal Holdings (PYPL) traded up $2.18 during midday trading on Monday, hitting $78.19. 2,227,266 shares of the stock traded hands, compared to its average volume of 7,635,025. The firm has a market capitalization of $91,980.00 and a price-to-earnings ratio of 54.56. PayPal Holdings has a 12 month low of $38.06 and a 12 month high of $78.01.

PayPal Holdings (NASDAQ:PYPL) last posted its quarterly earnings data on Thursday, October 19th. The credit services provider reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.03. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. PayPal Holdings had a net margin of 12.69% and a return on equity of 11.33%. The company’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the business posted $0.35 earnings per share. research analysts forecast that PayPal Holdings will post 1.37 earnings per share for the current year.

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Institutional investors and hedge funds have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in shares of PayPal Holdings by 0.9% in the second quarter. Rhumbline Advisers now owns 1,850,531 shares of the credit services provider’s stock worth $99,318,000 after purchasing an additional 17,139 shares in the last quarter. Fundsmith LLP boosted its position in shares of PayPal Holdings by 6.8% in the second quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after acquiring an additional 889,976 shares during the period. Shikiar Asset Management Inc. boosted its position in shares of PayPal Holdings by 2,671.9% in the second 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 position in shares of PayPal Holdings in the second quarter valued at approximately $50,648,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of PayPal Holdings by 0.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock valued at $12,055,000 after acquiring an additional 1,400 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.

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.

Analyst Recommendations for PayPal Holdings (NASDAQ:PYPL)

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