PayPal (NASDAQ:PYPL) Now Covered by Analysts at Evercore ISI

Investment analysts at Evercore ISI began coverage on shares of PayPal (NASDAQ:PYPL) in a research note issued to investors on Wednesday, Marketbeat reports. The firm set an “in-line” rating and a $65.00 price target on the credit services provider’s stock. Evercore ISI’s target price indicates a potential upside of 7.33% from the stock’s previous close.

PYPL has been the subject of a number of other reports. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of PayPal in a report on Wednesday, February 5th. Keefe, Bruyette & Woods reduced their price objective on PayPal from $104.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, March 31st. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of PayPal in a research note on Tuesday, February 4th. Barclays upped their price target on PayPal from $92.00 to $110.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Finally, BTIG Research reiterated a “neutral” rating on shares of PayPal in a research report on Tuesday, February 4th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PayPal presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.32.

PayPal Stock Down 5.3 %

PYPL opened at $60.56 on Wednesday. The business’s 50-day simple moving average is $70.19 and its 200-day simple moving average is $79.87. The stock has a market capitalization of $59.91 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 1.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.26 and a current ratio of 1.26. PayPal has a one year low of $55.85 and a one year high of $93.66.

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, beating the consensus estimate of $1.11 by $0.08. The business had revenue of $8.37 billion during the quarter, compared to the consensus estimate of $8.27 billion. PayPal had a return on equity of 23.67% and a net margin of 13.04%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.48 earnings per share. Analysts anticipate that PayPal will post 5.03 EPS for the current year.

Insider Activity

In related news, Director Gail J. Mcgovern sold 2,446 shares of PayPal stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $72.15, for a total transaction of $176,478.90. Following the completion of the transaction, the director now directly owns 29,734 shares in the company, valued at $2,145,308.10. The trade was a 7.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.

Hedge Funds Weigh In On PayPal

Several hedge funds have recently bought and sold shares of PYPL. Thurston Springer Miller Herd & Titak Inc. increased its position in PayPal by 44.5% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,475 shares of the credit services provider’s stock worth $161,000 after purchasing an additional 762 shares in the last quarter. Boltwood Capital Management boosted its stake in shares of PayPal by 8.7% during the 1st quarter. Boltwood Capital Management now owns 6,335 shares of the credit services provider’s stock worth $413,000 after purchasing an additional 505 shares during the last quarter. Lake Street Private Wealth LLC grew its holdings in shares of PayPal by 5.2% during the first quarter. Lake Street Private Wealth LLC now owns 36,020 shares of the credit services provider’s stock worth $2,350,000 after buying an additional 1,785 shares in the last quarter. Secure Asset Management LLC raised its position in shares of PayPal by 1,045.2% in the first quarter. Secure Asset Management LLC now owns 34,493 shares of the credit services provider’s stock valued at $2,251,000 after buying an additional 31,481 shares during the last quarter. Finally, Key Client Fiduciary Advisors LLC lifted its stake in shares of PayPal by 1.2% during the first quarter. Key Client Fiduciary Advisors LLC now owns 25,563 shares of the credit services provider’s stock valued at $1,668,000 after buying an additional 295 shares during the period. Hedge funds and other institutional investors own 68.32% of the company’s stock.

PayPal Company Profile

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.