PayPal (NASDAQ:PYPL) Price Target Increased to $65.00 by Analysts at Evercore ISI

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

A number of other research analysts have also recently issued reports on PYPL. Daiwa Capital Markets cut PayPal from an outperform rating to a neutral rating and decreased their target price for the company from $64.00 to $62.00 in a research report on Tuesday, February 13th. Wells Fargo & Company lifted their price target on shares of PayPal from $55.00 to $60.00 and gave the company an equal weight rating in a report on Monday, January 29th. JPMorgan Chase & Co. dropped their price objective on shares of PayPal from $75.00 to $70.00 and set an overweight rating for the company in a research note on Thursday, February 8th. Susquehanna boosted their target price on shares of PayPal from $61.00 to $65.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Finally, Wedbush reiterated an outperform rating and set a $85.00 price target on shares of PayPal in a report on Thursday, February 8th. Twenty-five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PayPal currently has a consensus rating of Hold and an average price target of $72.73.

PayPal Stock Performance

NASDAQ PYPL opened at $66.14 on Wednesday. The firm’s 50 day simple moving average is $63.39 and its 200 day simple moving average is $60.39. The firm has a market capitalization of $69.62 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 1.26 and a beta of 1.41. The company has a current ratio of 1.28, a quick ratio of 1.29 and a debt-to-equity ratio of 0.47. PayPal has a 1 year low of $50.25 and a 1 year high of $76.54.

PayPal (NASDAQ:PYPL) last released its earnings results on Tuesday, April 30th. The credit services provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.22 by ($0.14). PayPal had a return on equity of 21.58% and a net margin of 14.26%. The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. As a group, research analysts expect that PayPal will post 4.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On PayPal

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley increased its stake in PayPal by 4.5% during the 3rd quarter. Morgan Stanley now owns 20,069,337 shares of the credit services provider’s stock valued at $1,173,254,000 after purchasing an additional 873,181 shares in the last quarter. Norges Bank acquired a new stake in shares of PayPal in the 4th quarter worth about $749,561,000. Northern Trust Corp lifted its position in PayPal by 0.7% in the 3rd quarter. Northern Trust Corp now owns 11,767,054 shares of the credit services provider’s stock valued at $687,902,000 after acquiring an additional 78,105 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in PayPal by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,976,859 shares of the credit services provider’s stock valued at $428,449,000 after acquiring an additional 265,116 shares in the last quarter. Finally, FMR LLC raised its stake in shares of PayPal by 29.5% in the third quarter. FMR LLC now owns 6,916,982 shares of the credit services provider’s stock worth $404,367,000 after purchasing an additional 1,575,930 shares during the last quarter. 68.32% of the stock is owned by institutional investors.

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.