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Canaccord Genuity Thinks Paypal Holdings’ Stock is Going to Recover

In a report released yesterday, Joseph Vafi from Canaccord Genuity maintained a Buy rating on Paypal Holdings (PYPLResearch Report), with a price target of $160.00. The company’s shares closed last Tuesday at $89.63, close to its 52-week low of $67.58.

According to TipRanks.com, Vafi is a 5-star analyst with an average return of 28.1% and a 48.3% success rate. Vafi covers the Technology sector, focusing on stocks such as HIVE Blockchain Technologies, Bill.com Holdings, and Coinbase Global.

Currently, the analyst consensus on Paypal Holdings is a Moderate Buy with an average price target of $115.39, representing a 32.5% upside. In a report issued on July 20, J.P. Morgan also maintained a Buy rating on the stock with a $112.00 price target.

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Based on Paypal Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $6.48 billion and net profit of $509 million. In comparison, last year the company earned revenue of $6.03 billion and had a net profit of $1.1 billion.

Based on the recent corporate insider activity of 78 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PYPL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

PayPal Holdings, Inc. is a digital payments platform that enables its customers to send and receive payments. Its solutions include PayPal, PayPal Credit, Braintree, Venmo, Xoom, iZettle and Hyperwallet products. The company was founded in December 1998 and is headquartered in San Jose, CA.

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