Merrill Lynch analyst Jason Kupferberg reiterated a Buy rating on Paypal Holdings (PYPL) today and set a price target of $282.00. The company’s shares closed last Thursday at $248.64, close to its 52-week high of $250.37.
According to TipRanks.com, Kupferberg is a 5-star analyst with an average return of 17.7% and a 70.9% success rate. Kupferberg covers the Technology sector, focusing on stocks such as DXC Technology Company, Global Payments, and Epam Systems.
Currently, the analyst consensus on Paypal Holdings is a Strong Buy with an average price target of $243.21, which is a -1.4% downside from current levels. In a report issued on January 13, Jefferies also maintained a Buy rating on the stock with a $280.00 price target.
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Based on Paypal Holdings’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $5.46 billion and net profit of $1.02 billion. In comparison, last year the company earned revenue of $4.38 billion and had a net profit of $462 million.
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PayPal Holdings, Inc. engages in the development of technology platform for digital payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, and Paydiant products. The firm manages a two-sided proprietary global technology platform that links customers, which consist of both merchants and consumers, to facilitate the processing of payment transactions. It allows its customers to use their account for both purchase and paying for goods, as well as to transfer and withdraw funds. The firm also enables consumers to exchange funds with merchants using funding sources, which include bank account, PayPal account balance, PayPal Credit account, credit and debit card or other stored value products. It offers consumers person-to-person payment solutions through its PayPal Website and mobile application, Venmo and Xoom. The company was founded in December 1998 and is headquartered in San Jose, CA.
