eBay Inc. (NASDAQ:EBAY) received a $29.00 target price from equities researchers at Morgan Stanley in a research report issued to clients and investors on Friday, July 21st. The brokerage presently has a “sell” rating on the e-commerce company’s stock. Morgan Stanley’s price objective indicates a potential downside of 16.64% from the company’s current price.
A number of other research firms have also recently commented on EBAY. J P Morgan Chase & Co set a $38.00 price target on eBay and gave the stock a “neutral” rating in a report on Friday, July 21st. Barclays PLC reaffirmed an “overweight” rating and set a $42.00 price objective (up from $41.00) on shares of eBay in a report on Friday, July 21st. Stifel Nicolaus set a $36.00 target price on eBay and gave the company a “neutral” rating in a research report on Friday, July 21st. UBS AG set a $40.00 target price on eBay and gave the company a “buy” rating in a research report on Friday, July 21st. Finally, Aegis reissued a “buy” rating and set a $42.00 target price on shares of eBay in a research report on Monday, July 17th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $37.05.
Shares of eBay (NASDAQ EBAY) traded down 0.20% during mid-day trading on Friday, reaching $34.78. 8,747,216 shares of the company’s stock were exchanged. eBay has a one year low of $27.28 and a one year high of $37.48. The stock has a 50-day moving average of $35.77 and a 200 day moving average of $34.33. The firm has a market capitalization of $37.23 billion, a P/E ratio of 5.22 and a beta of 1.36. eBay also was the target of some unusual options trading on Wednesday. Stock traders purchased 2,194 put options on the company. This represents an increase of 231% compared to the average daily volume of 663 put options.
eBay (NASDAQ:EBAY) last released its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The business had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the previous year, the company posted $0.43 EPS. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts forecast that eBay will post $2.00 EPS for the current fiscal year.
eBay announced that its board has authorized a share buyback plan on Thursday, July 20th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
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In related news, SVP Harry A. Lawton III sold 34,832 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $35.00, for a total transaction of $1,219,120.00. Following the sale, the senior vice president now owns 83,058 shares of the company’s stock, valued at $2,907,030. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Stephen Fisher sold 11,956 shares of eBay stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $36.24, for a total transaction of $433,285.44. Following the completion of the transaction, the senior vice president now owns 89,740 shares in the company, valued at approximately $3,252,177.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 95,238 shares of company stock worth $3,376,547. Corporate insiders own 6.78% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital One National Association boosted its position in eBay by 0.5% in the first quarter. Capital One National Association now owns 7,255 shares of the e-commerce company’s stock valued at $244,000 after buying an additional 39 shares during the last quarter. Trust Co. of Vermont boosted its position in eBay by 0.3% in the second quarter. Trust Co. of Vermont now owns 13,837 shares of the e-commerce company’s stock valued at $483,000 after buying an additional 40 shares during the last quarter. Welch & Forbes LLC raised its stake in shares of eBay by 0.6% in the first quarter. Welch & Forbes LLC now owns 7,708 shares of the e-commerce company’s stock worth $259,000 after buying an additional 45 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in shares of eBay by 0.3% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,473 shares of the e-commerce company’s stock worth $519,000 after buying an additional 50 shares during the period. Finally, Alpha Windward LLC raised its stake in shares of eBay by 1.1% in the first quarter. Alpha Windward LLC now owns 5,531 shares of the e-commerce company’s stock worth $186,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 85.71% of the company’s stock.
eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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