PayPal (NASDAQ:PYPL) Now Covered by Evercore ISI

Evercore ISI started coverage on shares of PayPal (NASDAQ:PYPL) in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm issued an in-line rating and a $65.00 target price on the credit services provider’s stock.

A number of other equities analysts have also weighed in on PYPL. Susquehanna increased their target price on shares of PayPal from $94.00 to $101.00 and gave the stock a “positive” rating in a research report on Monday, January 6th. Monness Crespi & Hardt dropped their price objective on shares of PayPal from $120.00 to $90.00 and set a “buy” rating for the company in a report on Tuesday. Wolfe Research upgraded shares of PayPal from a “peer perform” rating to an “outperform” rating and set a $107.00 price target on the stock in a research report on Friday, December 13th. DZ Bank upgraded shares of PayPal from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a report on Friday, February 28th. Finally, Piper Sandler decreased their target price on shares of PayPal from $85.00 to $76.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 26th. Fifteen research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $88.32.

PayPal Stock Down 6.2 %

Shares of NASDAQ:PYPL traded down $4.00 during mid-day trading on Wednesday, hitting $59.95. 6,564,603 shares of the company traded hands, compared to its average volume of 11,423,223. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.48. The stock has a market cap of $59.31 billion, a P/E ratio of 14.94, a P/E/G ratio of 1.27 and a beta of 1.60. The stock has a 50-day moving average price of $70.76 and a two-hundred day moving average price of $79.99. PayPal has a 12-month low of $55.85 and a 12-month high of $93.66.

PayPal (NASDAQ:PYPL) last announced its quarterly earnings data on Tuesday, February 4th. The credit services provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.08. The firm 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 business’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.48 EPS. On average, equities research analysts forecast that PayPal will post 5.03 earnings per share for the current year.

Insider Buying and Selling at PayPal

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

Institutional Investors Weigh In On PayPal

A number of institutional investors have recently modified their holdings of the stock. Mpwm Advisory Solutions LLC bought a new position in PayPal in the 4th quarter worth about $25,000. Rosenberg Matthew Hamilton boosted its position in PayPal by 67.6% in the fourth quarter. Rosenberg Matthew Hamilton now owns 310 shares of the credit services provider’s stock worth $26,000 after purchasing an additional 125 shares during the last quarter. Hurley Capital LLC purchased a new stake in PayPal during the fourth quarter valued at approximately $27,000. Sugarloaf Wealth Management LLC increased its stake in shares of PayPal by 344.3% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 351 shares of the credit services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Finally, Bernard Wealth Management Corp. bought a new stake in PayPal during the 4th quarter worth approximately $34,000. 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.