PayPal (NASDAQ:PYPL) Coverage Initiated at Evercore ISI

Equities research analysts at Evercore ISI initiated coverage on shares of PayPal (NASDAQ:PYPL) in a report released on Wednesday, MarketBeat reports. The brokerage set an “in-line” rating and a $65.00 price target on the credit services provider’s stock. Evercore ISI’s target price would indicate a potential upside of 7.33% from the stock’s current price.

Several other research firms have also commented on PYPL. Macquarie boosted their price objective on PayPal from $115.00 to $117.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Monness Crespi & Hardt dropped their price target on PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a research report on Tuesday. Wolfe Research upgraded PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price objective on the stock in a report on Friday, December 13th. Piper Sandler lowered their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research report on Monday, March 31st. Fifteen research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.32.

PayPal Trading Down 5.3 %

Shares of PYPL stock opened at $60.56 on Wednesday. PayPal has a 1-year low of $55.85 and a 1-year high of $93.66. The company has a market cap of $59.91 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a 50 day simple moving average of $70.19 and a 200-day simple moving average of $79.87.

PayPal (NASDAQ:PYPL) last posted its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.08. PayPal had a net margin of 13.04% and a return on equity of 23.67%. The company had revenue of $8.37 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts expect that PayPal will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling

In other PayPal news, Director Gail J. Mcgovern sold 2,446 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $72.15, for a total transaction of $176,478.90. Following the sale, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. This represents a 7.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PYPL. Mpwm Advisory Solutions LLC purchased a new stake in shares of PayPal during the fourth quarter worth $25,000. Rosenberg Matthew Hamilton grew its stake in PayPal by 67.6% during the 4th quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares in the last quarter. Hurley Capital LLC purchased a new stake in PayPal during the 4th quarter worth about $27,000. Sugarloaf Wealth Management LLC raised its position in PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock valued at $30,000 after purchasing an additional 272 shares in the last quarter. Finally, Bernard Wealth Management Corp. purchased a new position in shares of PayPal in the 4th quarter valued at about $34,000. Institutional investors and hedge funds own 68.32% of the company’s stock.

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.