Cowen Upgrades Paypal (PYPL) to “Outperform”

Cowen upgraded shares of Paypal (NASDAQ:PYPL) from a market perform rating to an outperform rating in a research report released on Tuesday, January 9th, Marketbeat reports. Cowen currently has $88.00 target price on the credit services provider’s stock, up from their previous target price of $79.05.

Several other brokerages also recently commented on PYPL. Vetr downgraded Paypal from a buy rating to a hold rating and set a $81.27 target price on the stock. in a report on Monday, January 8th. Barclays reaffirmed a buy rating on shares of Paypal in a research report on Tuesday, November 21st. Canaccord Genuity reiterated a hold rating and set a $66.00 price target on shares of Paypal in a research note on Thursday, November 16th. Robert W. Baird boosted their target price on Paypal from $80.00 to $85.00 and gave the stock an outperform rating in a research note on Thursday, November 16th. Finally, KeyCorp restated an overweight rating and issued a $85.00 target price (up previously from $80.00) on shares of Paypal in a research note 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’s stock. The company presently has an average rating of Buy and a consensus price target of $77.04.

Paypal (NASDAQ PYPL) traded up $0.55 during trading on Tuesday, reaching $78.95. The company’s stock had a trading volume of 12,831,404 shares, compared to its average volume of 10,178,689. The company has a market cap of $92,820.00 and a price-to-earnings ratio of 53.87. Paypal has a 12-month low of $39.34 and a 12-month high of $86.32.

Paypal (NASDAQ:PYPL) last issued its earnings results on Wednesday, January 31st. The credit services provider reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.03. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.64 billion. Paypal had a return on equity of 11.77% and a net margin of 13.71%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. equities analysts anticipate that Paypal will post 1.75 earnings per share for the current year.

In related news, Director Rodney C. Adkins acquired 6,750 shares of the stock in a transaction on Friday, December 8th. The stock was bought at an average cost of $74.04 per share, with a total value of $499,770.00. Following the transaction, the director now directly owns 10,149 shares in the company, valued at $751,431.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Fundsmith LLP raised its stake in shares of Paypal by 6.8% during the 2nd quarter. Fundsmith LLP now owns 14,051,261 shares of the credit services provider’s stock worth $754,131,000 after acquiring an additional 889,976 shares in the last quarter. AXA increased its stake in Paypal by 68.4% during the 3rd quarter. AXA now owns 382,248 shares of the credit services provider’s stock valued at $24,475,000 after purchasing an additional 155,268 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of Paypal by 0.7% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 188,272 shares of the credit services provider’s stock worth $12,055,000 after acquiring an additional 1,400 shares during the period. Rhumbline Advisers increased its stake in shares of Paypal by 1.2% in the third quarter. Rhumbline Advisers now owns 1,871,868 shares of the credit services provider’s stock worth $119,856,000 after acquiring an additional 21,337 shares during the period. Finally, Wealthfront Inc. increased its stake in shares of Paypal by 19.2% in the second quarter. Wealthfront Inc. now owns 42,458 shares of the credit services provider’s stock worth $2,279,000 after acquiring an additional 6,829 shares during the period. 81.70% of the stock is owned by hedge funds and other institutional investors.

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Paypal Company Profile

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 (NASDAQ:PYPL)

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