eBay Given New $61.00 Price Target at JPMorgan Chase & Co. (EBAY)
Stock analysts at JPMorgan Chase & Co. cut their target price on shares of eBay (NASDAQ:EBAY) from $65.00 to $61.00 in a report issued on Wednesday, AnalystRatings.Net reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 17.69% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of eBay in a research note on Wednesday. They now have a $57.00 price target on the stock. Separately, analysts at Atlantic Securities downgraded shares of eBay from an “overweight” rating to a “neutral” rating in a research note on Wednesday. Finally, analysts at Canaccord Genuity cut their price target on shares of eBay from $64.00 to $60.00 in a research note on Wednesday. They now have a “buy” rating on the stock. Eleven analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $61.88.
eBay (NASDAQ:EBAY) traded down 4.97% on Wednesday, hitting $51.83. 32,517,780 shares of the company’s stock traded hands. eBay has a 52 week low of $48.06 and a 52 week high of $59.70. The stock’s 50-day moving average is $55.28 and its 200-day moving average is $53.9. The company has a market cap of $67.102 billion and a P/E ratio of 25.02. eBay also was the target of unusually large options trading activity on Tuesday. Traders bought 86,301 call options on the company. This is an increase of approximately 240% compared to the average daily volume of 25,376 call options.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.67 by $0.03. The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.23 billion. During the same quarter last year, the company posted $0.63 earnings per share. eBay’s revenue was up 13.7% compared to the same quarter last year. On average, analysts predict that eBay will post $2.99 earnings per share for the current fiscal year.
eBay Inc, is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI.
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