Paypal (PYPL) Raised to Outperform at Raymond James

Raymond James upgraded shares of Paypal (NASDAQ:PYPL) from a market perform rating to an outperform rating in a research report released on Friday morning, MarketBeat Ratings reports. They currently have $108.00 target price on the credit services provider’s stock.

Several other analysts have also recently commented on the stock. Wells Fargo & Co lifted their target price on shares of Paypal from $95.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, July 26th. Atlantic Securities raised shares of Paypal from a neutral rating to an overweight rating and set a $43.00 target price for the company in a research note on Thursday, June 21st. Berenberg Bank started coverage on shares of Paypal in a research note on Thursday, August 30th. They issued a buy rating and a $104.00 target price for the company. Credit Suisse Group lifted their target price on shares of Paypal from $93.00 to $100.00 and gave the stock a $87.38 rating in a research note on Thursday, July 19th. Finally, Robert W. Baird lifted their target price on shares of Paypal from $96.00 to $99.00 and gave the stock an outperform rating in a research note on Friday, August 24th. Seven investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and one has assigned a strong buy rating to the company. Paypal currently has a consensus rating of Buy and an average price target of $89.99.

Shares of Paypal stock opened at $90.78 on Friday. Paypal has a 1 year low of $61.96 and a 1 year high of $93.70. The company has a market cap of $109.37 billion, a P/E ratio of 65.31, a P/E/G ratio of 3.02 and a beta of 1.30.

Paypal (NASDAQ:PYPL) last released its earnings results on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.17. The firm had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Paypal had a net margin of 14.02% and a return on equity of 12.91%. Paypal’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 EPS. analysts predict that Paypal will post 1.72 earnings per share for the current fiscal year.

In related news, VP Aaron Anderson sold 17,062 shares of the company’s stock in a transaction on Friday, July 27th. The shares were sold at an average price of $88.22, for a total transaction of $1,505,209.64. Following the completion of the sale, the vice president now directly owns 9,921 shares of the company’s stock, valued at approximately $875,230.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction on Friday, June 29th. The stock was sold at an average price of $83.42, for a total transaction of $2,168,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 149,732 shares of company stock valued at $13,044,257. 0.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in PYPL. Itau Unibanco Holding S.A. lifted its holdings in Paypal by 50.8% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 1,722 shares of the credit services provider’s stock worth $142,000 after buying an additional 580 shares in the last quarter. M&R Capital Management Inc. lifted its holdings in Paypal by 10.5% in the 2nd quarter. M&R Capital Management Inc. now owns 6,180 shares of the credit services provider’s stock worth $514,000 after buying an additional 585 shares in the last quarter. Twin Capital Management Inc. lifted its holdings in Paypal by 1.0% in the 2nd quarter. Twin Capital Management Inc. now owns 58,010 shares of the credit services provider’s stock worth $4,830,000 after buying an additional 600 shares in the last quarter. Bremer Trust National Association raised its stake in shares of Paypal by 4.5% in the 2nd quarter. Bremer Trust National Association now owns 13,952 shares of the credit services provider’s stock valued at $1,162,000 after purchasing an additional 605 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. raised its stake in shares of Paypal by 19.7% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,744 shares of the credit services provider’s stock valued at $311,000 after purchasing an additional 615 shares in the last quarter. 79.66% of the stock is owned by hedge funds and other institutional investors.

Paypal Company Profile

PayPal Holdings, Inc operates as a technology platform 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 Paydiant products. The company's platform allows consumers to shop by sending payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.

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Analyst Recommendations for Paypal (NASDAQ:PYPL)

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