DA Davidson Brokers Lower Earnings Estimates for PayPal Holdings, Inc. (NASDAQ:PYPL)
PayPal Holdings, Inc. (NASDAQ:PYPL – Get Rating) – Analysts at DA Davidson dropped their Q2 2022 EPS estimates for PayPal in a research report issued on Tuesday, August 2nd. DA Davidson analyst C. Brendler now expects that the credit services provider will post earnings of $0.53 per share for the quarter, down from their previous forecast of $0.57. The consensus estimate for PayPal’s current full-year earnings is $2.56 per share. DA Davidson also issued estimates for PayPal’s FY2022 earnings at $2.59 EPS and FY2023 earnings at $4.29 EPS.
Other analysts also recently issued research reports about the stock. Berenberg Bank decreased their price objective on shares of PayPal from $190.00 to $145.00 and set a “maintains” rating on the stock in a report on Wednesday, July 27th. Truist Financial lifted their target price on shares of PayPal from $80.00 to $108.00 and gave the stock a “hold” rating in a research report on Wednesday. StockNews.com cut shares of PayPal from a “hold” rating to a “sell” rating in a research report on Saturday, June 4th. Redburn Partners lowered shares of PayPal from a “buy” rating to a “neutral” rating in a research report on Friday, July 8th. Finally, BMO Capital Markets cut their price objective on shares of PayPal from $183.00 to $114.00 in a research report on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.79.
PayPal Stock Up 9.2 %
Shares of NASDAQ:PYPL opened at $97.92 on Wednesday. The company has a market cap of $113.40 billion, a price-to-earnings ratio of 32.32, a PEG ratio of 2.01 and a beta of 1.49. PayPal has a fifty-two week low of $67.58 and a fifty-two week high of $296.70. The firm’s 50-day simple moving average is $78.60 and its 200-day simple moving average is $99.32. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.40.
Insider Buying and Selling
In related news, EVP Peggy Alford sold 14,767 shares of the stock in a transaction dated Friday, May 6th. The shares were sold at an average price of $85.32, for a total value of $1,259,920.44. Following the completion of the transaction, the executive vice president now owns 39,891 shares in the company, valued at approximately $3,403,500.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
Hedge Funds Weigh In On PayPal
A number of institutional investors and hedge funds have recently bought and sold shares of PYPL. Norges Bank bought a new position in PayPal in the 4th quarter valued at about $1,873,879,000. Loomis Sayles & Co. L P boosted its position in shares of PayPal by 410.9% during the 1st quarter. Loomis Sayles & Co. L P now owns 7,060,926 shares of the credit services provider’s stock valued at $816,596,000 after purchasing an additional 5,678,823 shares in the last quarter. Polen Capital Management LLC boosted its position in shares of PayPal by 72.8% during the 1st quarter. Polen Capital Management LLC now owns 12,911,679 shares of the credit services provider’s stock valued at $1,493,236,000 after purchasing an additional 5,438,958 shares in the last quarter. Bank of Montreal Can boosted its position in shares of PayPal by 123.0% during the 4th quarter. Bank of Montreal Can now owns 8,051,183 shares of the credit services provider’s stock valued at $2,334,845,000 after purchasing an additional 4,440,194 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of PayPal by 122.0% during the 1st quarter. Clearbridge Investments LLC now owns 6,230,481 shares of the credit services provider’s stock valued at $720,555,000 after purchasing an additional 3,424,122 shares in the last quarter. Institutional investors own 75.90% of the company’s stock.
PayPal Company Profile
PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It provides payment solutions under the PayPal, PayPal Credit, Braintree, Venmo, Xoom, Zettle, Hyperwallet, Honey, and Paidy names. The company’s payments platform allows consumers to send and receive payments in approximately 200 markets and in approximately 100 currencies, withdraw funds to their bank accounts in 56 currencies, and hold balances in their PayPal accounts in 25 currencies.
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