PayPal (NASDAQ:PYPL) PT Raised to $65.00 at Evercore ISI

PayPal (NASDAQ:PYPL) had its price target upped by equities researchers at Evercore ISI from $60.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “in-line” rating on the credit services provider’s stock. Evercore ISI’s price target points to a potential downside of 1.99% from the stock’s previous close.

Several other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein upped their price target on shares of PayPal from $66.00 to $68.00 and gave the company a “market perform” rating in a research report on Thursday, April 18th. Wedbush reaffirmed an “outperform” rating and issued a $85.00 price objective on shares of PayPal in a research note on Thursday, February 8th. Daiwa Capital Markets downgraded shares of PayPal from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $64.00 to $62.00 in a report on Tuesday, February 13th. Mizuho raised their price objective on shares of PayPal from $60.00 to $68.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Monness Crespi & Hardt lifted their target price on shares of PayPal from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday. Twenty-four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.82.

PayPal Price Performance

Shares of PayPal stock traded down $1.60 on Wednesday, reaching $66.32. 6,715,668 shares of the stock were exchanged, compared to its average volume of 16,466,773. The firm’s 50 day moving average is $63.21 and its 200-day moving average is $60.35. The firm has a market cap of $69.81 billion, a PE ratio of 17.27, a P/E/G ratio of 1.25 and a beta of 1.45. PayPal has a one year low of $50.25 and a one year high of $76.54. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.29 and a current ratio of 1.29.

PayPal (NASDAQ:PYPL) last released its quarterly earnings data on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.14). The company had revenue of $7.70 billion for the quarter, compared to analyst estimates of $7.52 billion. PayPal had a return on equity of 20.84% and a net margin of 14.26%. PayPal’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.86 earnings per share. As a group, analysts anticipate that PayPal will post 4.02 EPS for the current fiscal year.

Insider Buying and Selling at PayPal

In other PayPal 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 transaction, the senior vice president now directly owns 23,430 shares of the company’s stock, valued at approximately $1,420,795.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of PayPal in the 4th quarter worth about $25,000. Sutton Wealth Advisors Inc. grew its position in shares of PayPal by 115.0% in the 3rd quarter. Sutton Wealth Advisors Inc. now owns 443 shares of the credit services provider’s stock worth $26,000 after buying an additional 237 shares during the period. American National Bank purchased a new stake in shares of PayPal in the 1st quarter worth about $27,000. Private Wealth Management Group LLC purchased a new stake in shares of PayPal in the 4th quarter worth about $29,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of PayPal in the 1st quarter worth about $30,000. 68.32% of the stock is owned by hedge funds and other institutional investors.

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.