PayPal (PYPL) PT Raised to $45 at Oppenheimer

October 21, 2016 9:33 AM EDT
Get Alerts PYPL Hot Sheet
Price: $41.60 --0%

Rating Summary:
    29 Buy, 15 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Oppenheimer analyst Glenn Greene reiterated an Outperform rating and raised his price target on PayPal (NASDAQ: PYPL) to $45.00 (from $43.00) after solid 3Q results, as revenue of $2.67B grew 18% year/year (+21% in constant currency) and EPS of $0.35 was essentially in line with the firm's/Street's $0.34/0.35 estimates. Total payment volume (TPV) growth (+28% Y/Y in CC) was led by 34% CC Merchant Services growth.

Greene commented, "Encouragingly, PYPL provided new three-year guidance that calls for mid-20% CC TPV growth, 16-17% CC revenue growth (up from 15%) and flat to growing margins. Notably, PYPL appears confident it can offset margin dilution from the recent V/MA strategic partnerships with leverage from other expenses. Trading at 23x our FY17E EPS, shares remain attractive, in our view."

For an analyst ratings summary and ratings history on PayPal click here. For more ratings news on PayPal click here.

Shares of PayPal closed at $40.09 yesterday.

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