eBay Stock Rating Lowered by SunTrust (EBAY)
eBay (NASDAQ:EBAY) was downgraded by equities researchers at SunTrust from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $58.00 price objective on the stock, down from their previous price objective of $62.00. SunTrust’s target price suggests a potential upside of 13.84% from the company’s current price.
The analysts wrote, “washed out,” reduced guidance was already taken into account, and the value of the business as expressed by an activist shareholder. The analyst commented, “However, we point to 3 near term items that suppress our near term enthusiasm: 1) with the activist no longer highlighting the value, we no longer see that as a catalyst to drive the stock higher, 2) a $3b charge in the earnings release lowers the cash in our sum of parts valuation (and could imply a potential large acquisition in the future), 3) general multiples in the industry have been reduced, making near term operating outperformance the main driver of stock appreciation.” SunTrust maintained estimates for eBay. Peck sees 2014 and 2015 revenue of $18.2 billion and $21.1 billion, respectively. SunTrust’s EPS estimates for 2014 and 2014 are $2.98 and $3.44, respectively. Peck added that he remains “cautiously optimistic”
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet downgraded shares of eBay from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Separately, analysts at UBS AG reiterated a “buy” rating on shares of eBay in a research note on Wednesday, April 30th. They now have a $64.00 price target on the stock. Finally, analysts at CRT Capital reiterated a “fairly valued” rating on shares of eBay in a research note on Wednesday, April 30th. They now have a $55.00 price target on the stock. Thirteen investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $61.68.
Shares of eBay (NASDAQ:EBAY) traded down 1.86% on Wednesday, hitting $50.00. The stock had a trading volume of 8,034,361 shares. eBay has a one year low of $48.06 and a one year high of $59.70. The stock has a 50-day moving average of $54.64 and a 200-day moving average of $53.86. The company’s market cap is $63.367 billion.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that eBay will post $2.99 EPS 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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