Evercore ISI Raises PayPal (NASDAQ:PYPL) Price Target to $65.00

PayPal (NASDAQ:PYPL) had its target price hoisted by Evercore ISI from $60.00 to $65.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have an in-line rating on the credit services provider’s stock.

PYPL has been the topic of a number of other reports. DZ Bank cut shares of PayPal from a buy rating to a hold rating and set a $60.00 price target on the stock. in a research report on Friday, February 9th. Monness Crespi & Hardt upped their price target on shares of PayPal from $80.00 to $88.00 and gave the stock a buy rating in a research report on Monday, April 29th. Royal Bank of Canada reissued an outperform rating and issued a $74.00 price objective on shares of PayPal in a research report on Thursday, March 21st. BTIG Research reaffirmed a neutral rating on shares of PayPal in a research report on Friday, January 5th. Finally, UBS Group raised their target price on PayPal from $56.00 to $63.00 and gave the company a neutral rating in a report on Friday, March 1st. Twenty-five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and a consensus price target of $72.73.

PayPal Stock Down 1.9 %

Shares of PYPL opened at $65.70 on Wednesday. PayPal has a fifty-two week low of $50.25 and a fifty-two week high of $76.54. The company’s fifty day moving average is $63.69 and its two-hundred day moving average is $60.50. The firm has a market cap of $68.73 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.20 and a beta of 1.41. The company has a quick ratio of 1.29, a current ratio of 1.28 and a debt-to-equity ratio of 0.47.

PayPal (NASDAQ:PYPL) last issued its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The firm had revenue of $7.70 billion during the quarter, compared to analyst estimates of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. PayPal’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Analysts forecast that PayPal will post 4.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Frank Keller sold 7,686 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $60.64, for a total transaction of $466,079.04. Following the completion of the transaction, the senior vice president now owns 23,430 shares of the company’s stock, valued at $1,420,795.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hartford Financial Management Inc. grew its holdings in PayPal by 18.8% in the 4th quarter. Hartford Financial Management Inc. now owns 1,032 shares of the credit services provider’s stock worth $63,000 after buying an additional 163 shares in the last quarter. Pine Haven Investment Counsel Inc increased its holdings in shares of PayPal by 3.7% during the fourth quarter. Pine Haven Investment Counsel Inc now owns 4,705 shares of the credit services provider’s stock valued at $289,000 after purchasing an additional 170 shares during the period. Pittenger & Anderson Inc. raised its stake in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock valued at $26,000 after purchasing an additional 172 shares in the last quarter. Brooks Moore & Associates Inc. lifted its holdings in PayPal by 1.3% in the third quarter. Brooks Moore & Associates Inc. now owns 14,391 shares of the credit services provider’s stock worth $841,000 after purchasing an additional 180 shares during the period. Finally, Waldron Private Wealth LLC grew its position in PayPal by 1.9% in the 4th quarter. Waldron Private Wealth LLC now owns 9,619 shares of the credit services provider’s stock valued at $590,000 after buying an additional 182 shares in the last quarter. 68.32% of the stock is owned by institutional investors and hedge funds.

About PayPal

PayPal Holdings, Inc operates a technology platform that enables digital payments on behalf of merchants and consumers worldwide. It operates a two-sided network at scale that connects merchants and consumers that enables its customers to connect, transact, and send and receive payments through online and in person, as well as transfer and withdraw funds using various funding sources, such as bank accounts, PayPal or Venmo account balance, PayPal and Venmo branded credit products comprising its installment products, credit and debit cards, and cryptocurrencies, as well as other stored value products, including gift cards and eligible rewards.