Paypal (PYPL) Earns Overweight Rating from Analysts at Barclays

Barclays began coverage on shares of Paypal (NASDAQ:PYPL) in a research note issued to investors on Wednesday, The Fly reports. The firm issued an overweight rating and a $110.00 price objective on the credit services provider’s stock.

PYPL has been the topic of several other reports. Zacks Investment Research cut Paypal from a buy rating to a hold rating in a report on Wednesday, July 25th. BidaskClub cut Paypal from a strong-buy rating to a buy rating in a report on Tuesday, September 18th. Credit Suisse Group upped their target price on Paypal from $93.00 to $100.00 and gave the company a $87.38 rating in a report on Thursday, July 19th. Jefferies Financial Group reiterated a buy rating and issued a $110.00 target price on shares of Paypal in a report on Wednesday, August 29th. Finally, Wells Fargo & Co boosted their price target on Paypal from $95.00 to $101.00 and gave the company an outperform rating in a research note on Thursday, July 26th. Seven equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. Paypal currently has a consensus rating of Buy and an average price target of $94.37.

PYPL stock traded down $1.68 during trading on Wednesday, hitting $85.06. The company had a trading volume of 7,508,595 shares, compared to its average volume of 11,021,444. Paypal has a one year low of $68.61 and a one year high of $93.70. The stock has a market capitalization of $99.04 billion, a PE ratio of 49.15, a PEG ratio of 2.57 and a beta of 1.23.

Paypal (NASDAQ:PYPL) last announced its earnings results on Thursday, October 18th. The credit services provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.04. Paypal had a return on equity of 13.60% and a net margin of 13.98%. The business had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Paypal will post 1.79 earnings per share for the current year.

In related news, EVP Adele Louise Pentland sold 8,149 shares of the company’s stock in a transaction on Monday, October 29th. The stock was sold at an average price of $84.68, for a total transaction of $690,057.32. Following the completion of the sale, the executive vice president now owns 61,056 shares in the company, valued at $5,170,222.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Daniel H. Schulman sold 26,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $92.43, for a total value of $2,403,180.00. Following the sale, the insider now owns 323,316 shares of the company’s stock, valued at approximately $29,884,097.88. The disclosure for this sale can be found here. Insiders have sold 379,755 shares of company stock valued at $32,034,580 in the last quarter. 0.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. B. Riley Wealth Management Inc. bought a new position in Paypal in the 3rd quarter valued at $902,000. Nordea Investment Management AB grew its stake in Paypal by 16.8% in the 3rd quarter. Nordea Investment Management AB now owns 451,992 shares of the credit services provider’s stock valued at $39,704,000 after purchasing an additional 65,076 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its stake in Paypal by 21.4% in the 3rd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 185,500 shares of the credit services provider’s stock valued at $16,294,000 after purchasing an additional 32,700 shares during the period. Alpine Global Management LLC bought a new position in Paypal in the 3rd quarter valued at $208,000. Finally, Night Owl Capital Management LLC grew its stake in Paypal by 1.3% in the 3rd quarter. Night Owl Capital Management LLC now owns 99,755 shares of the credit services provider’s stock valued at $8,762,000 after purchasing an additional 1,267 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.

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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