Paypal Holdings Inc (NASDAQ:PYPL) – Wedbush raised their Q3 2018 EPS estimates for Paypal in a report issued on Wednesday. Wedbush analyst M. Katri now expects that the credit services provider will post earnings per share of $0.40 for the quarter, up from their prior estimate of $0.37. Wedbush also issued estimates for Paypal’s Q4 2018 earnings at $0.42 EPS, FY2018 earnings at $1.59 EPS, Q1 2019 earnings at $0.43 EPS, Q4 2019 earnings at $0.49 EPS and FY2019 earnings at $1.84 EPS.
Other equities research analysts have also issued reports about the stock. Credit Suisse Group reaffirmed an “outperform” rating and set a $85.00 price target (up from $74.00) on shares of Paypal in a report on Friday, November 17th. Barclays lifted their price target on shares of Paypal from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Friday, October 20th. Citigroup reaffirmed a “buy” rating and set a $87.00 price target on shares of Paypal in a report on Friday, November 17th. Zacks Investment Research lowered shares of Paypal from a “buy” rating to a “hold” rating in a report on Thursday, November 2nd. Finally, Argus lifted their price target on shares of Paypal from $80.00 to $87.00 and gave the company a “buy” rating in a report on Friday, November 17th. Ten investment analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $76.55.
Paypal (NASDAQ PYPL) traded up $0.14 during mid-day trading on Monday, reaching $83.98. 7,560,400 shares of the company’s stock traded hands, compared to its average volume of 8,227,622. Paypal has a 52-week low of $39.02 and a 52-week high of $84.21. The company has a market cap of $101,060.00 and a price-to-earnings ratio of 65.61.
Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC lifted its position in shares of Paypal by 36.1% during the 2nd quarter. FMR LLC now owns 82,268,871 shares of the credit services provider’s stock valued at $4,415,371,000 after acquiring an additional 21,814,940 shares during the period. Vanguard Group Inc. increased its stake in Paypal by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 77,758,731 shares of the credit services provider’s stock valued at $4,173,311,000 after purchasing an additional 2,115,017 shares in the last quarter. BlackRock Inc. increased its stake in Paypal by 4.7% during the 2nd quarter. BlackRock Inc. now owns 62,938,949 shares of the credit services provider’s stock valued at $3,377,936,000 after purchasing an additional 2,835,027 shares in the last quarter. Fundsmith LLP increased its stake in Paypal by 6.8% during the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock valued at $754,131,000 after purchasing an additional 889,976 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in Paypal by 0.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 12,608,026 shares of the credit services provider’s stock valued at $676,673,000 after purchasing an additional 84,888 shares in the last quarter. Hedge funds and other institutional investors own 81.71% of the company’s stock.
In other news, Director Rodney C. Adkins purchased 6,750 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were purchased at an average price of $74.04 per share, for a total transaction of $499,770.00. Following the transaction, the director now owns 10,149 shares of the company’s stock, valued at $751,431.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 6.00% of the stock is currently owned by insiders.
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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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