SunTrust Reiterates Buy Rating for eBay (EBAY)
eBay (NASDAQ:EBAY)‘s stock had its “buy” rating reaffirmed by equities research analysts at SunTrust in a research note issued to investors on Thursday, American Banking News reports. They currently have a $61.00 price objective on the stock. SunTrust’s target price would suggest a potential upside of 13.40% from the stock’s previous close.
The analysts wrote, “Enterprise is small for eBay, only comprising ~6% of revenues and ~1% of operating profit,” the report noted. “Importantly, the unit had been underperforming for the last few quarters with top line growth rates of 0-5% and segment margins of 5% vs. overall eBay operating margins of ~27%. The unit has been pressured by larger clients pushing back on pricing, which hampered top line growth.”
Shares of eBay (NASDAQ:EBAY) opened at 53.89 on Thursday. eBay has a 1-year low of $48.06 and a 1-year high of $58.04. The stock’s 50-day moving average is $52.65 and its 200-day moving average is $52.93. The company has a market cap of $69.766 billion and a P/E ratio of 25.61. eBay also saw unusually large options trading activity on Tuesday. Traders acquired 84,200 call options on the company. This represents an increase of approximately 189% compared to the average volume of 29,185 call options.
Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest cut their price target on shares of eBay from $62.00 to $60.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at FBN Securities initiated coverage on shares of eBay in a research note to investors on Tuesday. They set a “sector perform” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of eBay in a research note to investors on Monday. Ten analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company. eBay has a consensus rating of “Buy” and an average price target of $61.56.
eBay Inc is a global technology company that enables commerce through three reportable segments: Marketplaces, Payments, and GSI.
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