eBay Price Target Cut to $54.00 (EBAY)
Susquehanna cut their price objective on shares of eBay (NASDAQ:EBAY) from $60.00 to $54.00 in a research note issued on Monday. Susquehanna’s price objective indicates a potential upside of 5.55% from the stock’s previous close.
eBay (NASDAQ:EBAY) traded down 0.66% during mid-day trading on Monday, hitting $51.16. The stock had a trading volume of 9,360,427 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 $50.01 and a 200-day moving average of $53.3. The company’s market cap is $64.837 billion. eBay also saw a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 21,795,310 shares, a growth of 15.7% from the June 13th total of 18,831,587 shares. Based on an average daily volume of 10,526,533 shares, the days-to-cover ratio is currently 2.1 days. Currently, 1.9% of the shares of the stock are short sold.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 13.7% on a year-over-year basis. On average, analysts predict that eBay will post $2.98 earnings per share for the current fiscal year.
EBAY has been the subject of a number of other recent research reports. Analysts at Goldman Sachs reiterated an “outperform” rating on shares of eBay in a research note on Monday. Separately, analysts at Pacific Crest downgraded shares of eBay from an “outperform” rating to a “sector perform” rating in a research note on Monday. They now have a $60.00 price target on the stock. Finally, analysts at SunTrust reiterated a “neutral” rating on shares of eBay in a research note on Wednesday, July 2nd. They now have a $58.00 price target on the stock. Seventeen analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.36.
eBay Inc, is a global technology company. The Company enables commerce through three reportable segments: Marketplaces, Payments, and GSI.
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