Paypal Holdings Inc (NASDAQ:PYPL) – Equities researchers at KeyCorp cut their Q3 2018 earnings estimates for Paypal in a research note issued to investors on Monday, September 10th, according to Zacks Investment Research. KeyCorp analyst J. Beck now expects that the credit services provider will earn $0.37 per share for the quarter, down from their previous estimate of $0.38. KeyCorp currently has a “Overweight” rating and a $105.00 price target on the stock.
Paypal (NASDAQ:PYPL) last announced its quarterly earnings results on Wednesday, July 25th. The credit services provider reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.17. Paypal had a return on equity of 12.91% and a net margin of 14.02%. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same quarter last year, the firm posted $0.46 earnings per share. The firm’s revenue was up 23.0% on a year-over-year basis.
Other analysts have also issued research reports about the company. Credit Suisse Group raised their price target on Paypal from $93.00 to $100.00 and gave the stock a “$87.38” rating in a research note on Thursday, July 19th. Morgan Stanley raised their price target on Paypal from $89.00 to $96.00 and gave the company a “$87.38” rating in a report on Thursday, July 19th. SunTrust Banks lifted their price objective on Paypal to $92.00 and gave the stock a “$88.22” rating in a report on Wednesday, July 18th. Stephens reissued a “buy” rating and issued a $91.00 target price on shares of Paypal in a research report on Friday, July 13th. Finally, Jefferies Financial Group initiated coverage on Paypal in a report on Tuesday, July 10th. They issued a “buy” rating and a $98.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and thirty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $91.94.
PYPL stock traded down $1.16 on Thursday, reaching $83.18. The company’s stock had a trading volume of 10,734,349 shares, compared to its average volume of 8,434,709. Paypal has a 12-month low of $65.79 and a 12-month high of $93.70. The firm has a market capitalization of $103.97 billion, a price-to-earnings ratio of 59.84, a PEG ratio of 2.86 and a beta of 1.31.
A number of hedge funds have recently bought and sold shares of PYPL. First Republic Investment Management Inc. grew its stake in shares of Paypal by 35.9% in the second quarter. First Republic Investment Management Inc. now owns 305,703 shares of the credit services provider’s stock valued at $25,455,000 after buying an additional 80,765 shares in the last quarter. Weatherly Asset Management L. P. lifted its holdings in shares of Paypal by 0.8% in the 2nd quarter. Weatherly Asset Management L. P. now owns 87,418 shares of the credit services provider’s stock valued at $7,279,000 after purchasing an additional 656 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Paypal by 18.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,434,018 shares of the credit services provider’s stock valued at $119,411,000 after purchasing an additional 227,908 shares during the last quarter. Allen Investment Management LLC lifted its holdings in shares of Paypal by 41.5% in the 2nd quarter. Allen Investment Management LLC now owns 20,577 shares of the credit services provider’s stock valued at $1,713,000 after purchasing an additional 6,039 shares during the last quarter. Finally, Lido Advisors LLC increased its position in Paypal by 27.9% in the 2nd quarter. Lido Advisors LLC now owns 8,953 shares of the credit services provider’s stock valued at $745,000 after acquiring an additional 1,953 shares during the period. 79.59% of the stock is owned by institutional investors.
In other Paypal news, EVP Aaron Karczmer sold 10,330 shares of the stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $88.22, for a total transaction of $911,312.60. Following the transaction, the executive vice president now owns 12,174 shares in the company, valued at $1,073,990.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel H. Schulman sold 26,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $89.57, for a total value of $2,328,820.00. Following the completion of the transaction, the insider now owns 331,506 shares in the company, valued at approximately $29,692,992.42. The disclosure for this sale can be found here. Insiders have sold 149,732 shares of company stock worth $13,204,157 in the last quarter. 0.20% of the stock is currently owned by company insiders.
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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