The SunTrust Banks Inc. Reiterates “Buy” Rating for Paypal Holdings Inc. (PYPL)

The SunTrust Banks Inc. Reiterates “Buy” Rating for Paypal Holdings Inc. (PYPL)

SunTrust Banks Inc. restated their buy rating on shares of Paypal Holdings Inc. (NASDAQ:PYPL) in a report released on Wednesday. The firm currently has a $45.00 target price on the stock.

Several other equities research analysts also recently weighed in on PYPL. Piper Jaffray Cos. restated an underweight rating and issued a $34.00 target price on shares of Paypal Holdings in a research note on Tuesday, June 14th. Morgan Stanley reiterated a hold rating and set a $40.00 price objective on shares of Paypal Holdings in a research note on Tuesday, June 14th. Oppenheimer Holdings Inc. started coverage on shares of Paypal Holdings in a research note on Thursday, June 16th. They set an outperform rating and a $42.00 price objective for the company. Deutsche Bank AG reiterated a buy rating and set a $44.00 price objective on shares of Paypal Holdings in a research note on Tuesday, June 28th. Finally, Credit Agricole SA reiterated an underperform rating and set a $38.00 price objective on shares of Paypal Holdings in a research note on Wednesday, June 29th. Four analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Paypal Holdings currently has an average rating of Hold and an average price target of $44.40.

Shares of Paypal Holdings (NASDAQ:PYPL) opened at 39.48 on Wednesday. The stock has a 50 day moving average price of $39.46 and a 200 day moving average price of $38.45. Paypal Holdings has a 1-year low of $30.52 and a 1-year high of $41.75. The stock has a market capitalization of $46.67 billion, a price-to-earnings ratio of 35.89 and a beta of 1.09.

Paypal Holdings (NASDAQ:PYPL) last announced its earnings results on Thursday, July 21st. The company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The company earned $2.65 billion during the quarter, compared to the consensus estimate of $2.60 billion. Paypal Holdings had a net margin of 13.55% and a return on equity of 10.60%. During the same period last year, the firm earned $0.32 earnings per share. Equities research analysts anticipate that Paypal Holdings will post $1.50 EPS for the current year.

In other news, EVP Gary J. Marino sold 1,726 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $40.87, for a total value of $70,541.62. Following the transaction, the executive vice president now directly owns 44,505 shares in the company, valued at approximately $1,818,919.35. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP William J. Ready sold 26,037 shares of the company’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $38.04, for a total transaction of $990,447.48. Following the completion of the transaction, the senior vice president now owns 105,906 shares in the company, valued at $4,028,664.24. The disclosure for this sale can be found here. 7.00% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the company. Artemis Investment Management LLP raised its position in shares of Paypal Holdings by 60.6% in the second quarter. Artemis Investment Management LLP now owns 342,141 shares of the company’s stock valued at $12,495,000 after buying an additional 129,047 shares in the last quarter. National Pension Service raised its position in shares of Paypal Holdings by 3.9% in the first quarter. National Pension Service now owns 659,018 shares of the company’s stock valued at $25,438,000 after buying an additional 24,650 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Paypal Holdings by 12.8% in the first quarter. Wellington Management Group LLP now owns 2,700,708 shares of the company’s stock valued at $104,248,000 after buying an additional 305,764 shares in the last quarter. Orbis Allan Gray Ltd bought a new position in shares of Paypal Holdings during the first quarter valued at approximately $606,807,000. Finally, Slate Path Capital LP raised its position in shares of Paypal Holdings by 13.1% in the first quarter. Slate Path Capital LP now owns 5,345,000 shares of the company’s stock valued at $206,317,000 after buying an additional 620,000 shares in the last quarter. Hedge funds and other institutional investors own 78.60% of the company’s stock.

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