Evercore ISI Group Downgrades PayPal

Fintel reports that on August 4, 2023, Evercore ISI Group downgraded their outlook for PayPal Holdings (NASDAQ:PYPL) from Outperform to In-Line.

Analyst Price Forecast Suggests 43.09% Upside

As of August 2, 2023, the average one-year price target for PayPal Holdings is 91.84. The forecasts range from a low of 58.58 to a high of $168.00. The average price target represents an increase of 43.09% from its latest reported closing price of 64.18.

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The projected annual revenue for PayPal Holdings is 30,654MM, an increase of 7.35%. The projected annual non-GAAP EPS is 4.86.

What is the Fund Sentiment?

There are 3062 funds or institutions reporting positions in PayPal Holdings. This is a decrease of 91 owner(s) or 2.89% in the last quarter. Average portfolio weight of all funds dedicated to PYPL is 0.50%, an increase of 0.28%. Total shares owned by institutions decreased in the last three months by 5.22% to 857,853K shares. The put/call ratio of PYPL is 0.57, indicating a bullish outlook.

What are Other Shareholders Doing?

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 34,959K shares representing 3.13% ownership of the company. In it’s prior filing, the firm reported owning 34,601K shares, representing an increase of 1.02%. The firm decreased its portfolio allocation in PYPL by 0.53% over the last quarter.

Comprehensive Financial Management holds 29,662K shares representing 2.66% ownership of the company. In it’s prior filing, the firm reported owning 29,762K shares, representing a decrease of 0.34%. The firm increased its portfolio allocation in PYPL by 0.15% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 26,400K shares representing 2.37% ownership of the company. In it’s prior filing, the firm reported owning 26,354K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in PYPL by 0.95% over the last quarter.

Geode Capital Management holds 20,947K shares representing 1.88% ownership of the company. In it’s prior filing, the firm reported owning 20,712K shares, representing an increase of 1.12%. The firm decreased its portfolio allocation in PYPL by 0.26% over the last quarter.

Invesco Qqq Trust, Series 1 holds 14,876K shares representing 1.33% ownership of the company. In it’s prior filing, the firm reported owning 15,208K shares, representing a decrease of 2.23%. The firm decreased its portfolio allocation in PYPL by 12.03% over the last quarter.

PayPal Holdings Background Information
(This description is provided by the company.)

PayPal has remained at the forefront of the digital payment revolution for more than 20 years. By leveraging technology to make [nancial services and commerce more convenient, a ordable, and secure, the PayPal platform is empowering more than 375 million consumers and merchants in more than 200 markets to join and thrive in the global economy.

This article originally appeared on Fintel