Evercore ISI Boosts PayPal (NASDAQ:PYPL) Price Target to $70.00

PayPal (NASDAQ:PYPL) had its target price lifted by Evercore ISI from $65.00 to $70.00 in a report released on Tuesday, Benzinga reports. Evercore ISI currently has an in-line rating on the credit services provider’s stock.

A number of other brokerages have also weighed in on PYPL. Robert W. Baird upped their price target on shares of PayPal from $70.00 to $77.00 and gave the stock an outperform rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price target on PayPal from $60.00 to $65.00 and gave the company an equal weight rating in a research note on Wednesday, May 1st. Needham & Company LLC restated a hold rating on shares of PayPal in a report on Tuesday, April 30th. Citigroup raised their target price on PayPal from $79.00 to $81.00 and gave the company a buy rating in a research note on Monday, June 10th. Finally, 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 report on Thursday, April 18th. Twenty-one investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and a consensus target price of $73.64.

PayPal Price Performance

Shares of NASDAQ:PYPL opened at $58.37 on Tuesday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $63.34 and its two-hundred day moving average is $62.44. The firm has a market capitalization of $61.06 billion, a P/E ratio of 14.70, a PEG ratio of 0.97 and a beta of 1.43. PayPal has a 52 week low of $50.25 and a 52 week high of $76.54.

PayPal (NASDAQ:PYPL) last announced 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). The business had revenue of $7.70 billion for the quarter, compared to the consensus estimate of $7.52 billion. PayPal had a net margin of 14.26% and a return on equity of 21.58%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Analysts anticipate that PayPal will post 4.14 earnings per share for the current year.

Insider Transactions at PayPal

In related news, Director Deborah M. Messemer sold 4,422 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $61.65, for a total value of $272,616.30. Following the completion of the sale, the director now directly owns 13,976 shares in the company, valued at approximately $861,620.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PYPL. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of PayPal during the 4th quarter worth about $25,000. Pittenger & Anderson Inc. lifted its holdings in shares of PayPal by 77.5% during the first quarter. Pittenger & Anderson Inc. now owns 394 shares of the credit services provider’s stock worth $26,000 after buying an additional 172 shares during the last quarter. American National Bank bought a new stake in shares of PayPal in the first quarter valued at approximately $27,000. Private Wealth Management Group LLC acquired a new stake in shares of PayPal in the fourth quarter worth $29,000. Finally, Register Financial Advisors LLC bought a new position in PayPal during the first quarter worth $30,000. Institutional investors and hedge funds 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.