eBay Rating Reiterated by Credit Suisse (EBAY)
eBay (NASDAQ:EBAY)‘s stock had its “neutral” rating reaffirmed by stock analysts at Credit Suisse in a report issued on Thursday, Stock Ratings News reports. They currently have a $62.00 price objective on the stock, up from their previous price objective of $55.00. Credit Suisse’s price objective would indicate a potential upside of 13.95% from the stock’s previous close.
The analysts wrote, “Our view on eBay’s fundamentals and stock rating at Neutral remain unchanged as we continue to wait for the positive impact from upcoming key product tailwinds such as Cassini (global rollout completed in 4Q13) and opportunities to increase off-platform adoption of PayPal via strategic partnerships with retailers and payment service providers,” the report noted. “We have modestly lowered our near-term expectations given the tempered outlook for 2014 and 2015 which at this point is not a surprise and derisks EBAY shares.”
Shares of eBay (NASDAQ:EBAY) opened at 54.41 on Thursday. eBay has a 1-year low of $48.06 and a 1-year high of $58.04. The stock has a 50-day moving average of $53.03 and a 200-day moving average of $52.94. The company has a market cap of $70.439 billion and a price-to-earnings ratio of 25.91. eBay also was the recipient of some unusual options trading activity on Tuesday. Stock investors acquired 39,626 put options on the company. This is an increase of 207% compared to the typical daily volume of 12,927 put options.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $0.81 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.80 by $0.01. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company posted $0.70 earnings per share. eBay’s revenue was up 13.5% compared to the same quarter last year. Analysts expect that eBay will post $2.70 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of eBay from $59.00 to $64.00 in a research note to investors on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at Topeka Capital Markets downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Finally, analysts at Stifel Nicolaus downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note to investors on Thursday. Twelve investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $61.98.
eBay Inc is a global technology company that enables commerce through three reportable segments: Marketplaces, Payments, and GSI.
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