Paypal Holdings Inc (NASDAQ:PYPL) – Equities researchers at Jefferies Financial Group dropped their Q3 2019 earnings estimates for shares of Paypal in a note issued to investors on Thursday, April 25th, according to Zacks Investment Research. Jefferies Financial Group analyst J. Hecht now anticipates that the credit services provider will post earnings of $0.50 per share for the quarter, down from their prior estimate of $0.52. Jefferies Financial Group also issued estimates for Paypal’s FY2019 earnings at $2.24 EPS.
Paypal (NASDAQ:PYPL) last announced its earnings results on Wednesday, April 24th. The credit services provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.11. The business had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.13 billion. Paypal had a net margin of 13.92% and a return on equity of 15.50%. The firm’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 earnings per share.
A number of other analysts have also recently commented on PYPL. Barclays reiterated an “overweight” rating and issued a $115.00 price target (up previously from $110.00) on shares of Paypal in a research note on Monday, January 7th. Zacks Investment Research upgraded shares of Paypal from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. BidaskClub upgraded shares of Paypal from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 29th. Oppenheimer increased their price target on shares of Paypal from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, January 31st. Finally, Craig Hallum reiterated a “buy” rating and issued a $110.00 price target (up previously from $100.00) on shares of Paypal in a research note on Thursday, January 31st. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $107.18.
Shares of PYPL stock opened at $111.96 on Monday. The firm has a market capitalization of $131.55 billion, a price-to-earnings ratio of 62.55, a PEG ratio of 2.79 and a beta of 1.05. Paypal has a one year low of $72.23 and a one year high of $113.69.
In other Paypal news, insider Daniel H. Schulman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $112.38, for a total value of $3,371,400.00. Following the transaction, the insider now directly owns 553,821 shares of the company’s stock, valued at approximately $62,238,403.98. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gary J. Marino sold 2,017 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $91.11, for a total transaction of $183,768.87. Following the completion of the transaction, the insider now directly owns 42,317 shares in the company, valued at $3,855,501.87. The disclosure for this sale can be found here. Over the last three months, insiders sold 296,538 shares of company stock worth $30,150,606. Insiders own 0.15% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc boosted its stake in shares of Paypal by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 86,484,524 shares of the credit services provider’s stock valued at $7,596,801,000 after purchasing an additional 3,056,620 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Paypal by 1.9% in the 4th quarter. BlackRock Inc. now owns 74,772,548 shares of the credit services provider’s stock valued at $6,287,624,000 after purchasing an additional 1,393,628 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Paypal by 7,419.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,412,765 shares of the credit services provider’s stock valued at $231,000 after purchasing an additional 19,154,611 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Paypal by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 14,422,120 shares of the credit services provider’s stock valued at $1,210,539,000 after purchasing an additional 851,398 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Paypal by 2.6% in the 4th quarter. Northern Trust Corp now owns 13,371,403 shares of the credit services provider’s stock valued at $1,124,402,000 after purchasing an additional 338,772 shares in the last quarter. 81.47% of the stock is currently owned by hedge funds and other institutional investors.
About Paypal
PayPal Holdings, Inc operates as a technology platform and digital payments 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 iZettle products. The company’s Payments Platform allows consumers to send payments, withdraw funds to their bank accounts, and hold balances in their PayPal accounts in various currencies.