PayPal Holdings, Inc. (PYPL) Upgraded to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of PayPal Holdings, Inc. (NASDAQ:PYPL) from an equal weight rating to an overweight rating in a report published on Wednesday.

Other analysts have also recently issued research reports about the stock. Stephens reaffirmed an overweight rating and set a $59.00 price objective (up previously from $51.00) on shares of PayPal Holdings in a research note on Monday, June 19th. Vetr raised shares of PayPal Holdings from a hold rating to a buy rating and set a $54.78 price objective for the company in a research note on Wednesday, June 21st. Citigroup Inc. reaffirmed a buy rating and set a $67.00 price objective (up previously from $62.00) on shares of PayPal Holdings in a research note on Thursday, July 27th. KeyCorp raised shares of PayPal Holdings to a buy rating and set a $60.00 price objective for the company in a research note on Wednesday, June 21st. Finally, Mizuho reaffirmed a neutral rating and set a $48.00 price objective on shares of PayPal Holdings in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, thirty-three have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of Buy and an average price target of $63.14.

Shares of PayPal Holdings (NASDAQ:PYPL) traded up 1.59% on Wednesday, hitting $68.86. 8,664,729 shares of the company were exchanged. PayPal Holdings has a 52-week low of $38.06 and a 52-week high of $68.98. The stock has a market capitalization of $82.80 billion, a PE ratio of 55.53 and a beta of 0.98. The firm’s 50-day moving average is $64.02 and its 200-day moving average is $64.02.

PayPal Holdings (NASDAQ:PYPL) last announced its quarterly earnings data on Wednesday, July 26th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. PayPal Holdings had a net margin of 12.82% and a return on equity of 11.10%. The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.09 billion. During the same quarter in the prior year, the company earned $0.36 EPS. PayPal Holdings’s revenue was up 18.3% compared to the same quarter last year. Equities research analysts predict that PayPal Holdings will post $1.84 earnings per share for the current year.

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In related news, COO William J. Ready sold 90,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $59.25, for a total value of $5,332,500.00. Following the transaction, the chief operating officer now directly owns 29,252 shares of the company’s stock, valued at approximately $1,733,181. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John J. Donahoe sold 170,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $58.18, for a total transaction of $9,890,600.00. Following the completion of the transaction, the director now directly owns 124,516 shares in the company, valued at $7,244,340.88. The disclosure for this sale can be found here. Insiders sold a total of 261,351 shares of company stock worth $15,302,809 over the last ninety days. Insiders own 6.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Guardian Life Insurance Co. of America grew its position in shares of PayPal Holdings by 0.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 4,338 shares of the credit services provider’s stock valued at $187,000 after buying an additional 38 shares during the last quarter. Apriem Advisors grew its position in shares of PayPal Holdings by 0.6% in the 2nd quarter. Apriem Advisors now owns 8,398 shares of the credit services provider’s stock valued at $451,000 after buying an additional 52 shares during the last quarter. Westside Investment Management Inc. grew its position in shares of PayPal Holdings by 0.4% in the 2nd quarter. Westside Investment Management Inc. now owns 13,849 shares of the credit services provider’s stock valued at $761,000 after buying an additional 60 shares during the last quarter. Sigma Planning Corp grew its position in shares of PayPal Holdings by 0.4% in the 2nd quarter. Sigma Planning Corp now owns 16,819 shares of the credit services provider’s stock valued at $903,000 after buying an additional 74 shares during the last quarter. Finally, Train Babcock Advisors LLC grew its position in shares of PayPal Holdings by 1.6% in the 2nd quarter. Train Babcock Advisors LLC now owns 5,440 shares of the credit services provider’s stock valued at $292,000 after buying an additional 86 shares during the last quarter. 82.47% of the stock is currently owned by hedge funds and other institutional investors.

About PayPal Holdings

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 Holdings (NASDAQ:PYPL)

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