Recent Analysts’ Ratings Changes for eBay (EBAY)
eBay (NASDAQ: EBAY) has recently received a number of price target changes and ratings updates:
- 10/10/2016 – eBay had its “hold” rating reaffirmed by analysts at SunTrust Banks Inc.. They now have a $33.00 price target on the stock, up previously from $30.00. They wrote, “Bob” Peck sees results largely in line with the Street while expressing confidence in the turnaround of the company.Following are Peck’s key estimates for the third quarter:”GMV at $20.4 billion, up ~4 percent YoY and versus the Street at $20.3 billion.””Revenue of $2.185 billion, in line with consensus, and versus guidance of $2.16–$2.19 billion.””Non-GAAP EPS of $0.44, versus guidance of $0.42–$0.44 and Street at $0.44.”The analyst pointed out a recent data of ChannelAdvisor, suggesting U.S. GMV growth in the third quarter may have picked up modestly both sequentially and versus the year ago quarter.The fixed price business, which represents more than 80 percent of the retail marketplaces GMV, increased on a year-over-year basis for ChannelAdvisor’s clients, reversing the declining trend during the past four months.Related Link: EBay Acquires Search Tech Company Corrigon Ltd”We are optimistic on the turnaround given the large base of buyers and sellers, and eBay’s dominance within the long-tail, but acknowledge that much remains to be done even as competition is increasing,” Peck wrote in a note.The analyst noted that close to 50 percent of unit sales on Amazon.com, Inc. (NASDAQ: AMZN) are by third party (3P) sellers, who also benefit from about 50 percent of U.S. households being Prime members and the “Fulfilled by Amazon” program.In addition, Wal-Mart Stores, Inc. (NYSE: WMT) recently acquired Jet.com to bolster its online efforts, and Facebook Inc (NASDAQ: FB) launched Marketplace, which can all support 3P sellers.According to Peck, eBay still needs to reposition the brand, reignite the buyer acquisition flywheel and arrest the decline in the C2C platform, which, according to management, “will take time to yield material results.”On the positive note, Peck sees scope for rerating once visibility improves, given: “1) a leveraged equity shrink can create significant shareholder value, 2) disciplined M&A, and 3) shareholder-friendly management.”That said, the company has to deal with modest growth in core business, stiff competition and tough from StubHub.”While much remains to be done, we remain cautiously optimistic that growth could reaccelerate in the near-to-mid term,”
- 10/8/2016 – eBay had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $35.00 price target on the stock.
- 10/4/2016 – eBay had its “hold” rating reaffirmed by analysts at Canaccord Genuity. They now have a $28.00 price target on the stock.
- 10/1/2016 – eBay was downgraded by analysts at Pacific Crest to a “sell” rating.
- 9/28/2016 – eBay was upgraded by analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating. They now have a $40.00 price target on the stock, up previously from $30.00.
- 9/27/2016 – eBay had its “hold” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $34.00 price target on the stock.
- 9/13/2016 – eBay had its price target raised by analysts at Axiom Securities from $34.00 to $38.00. They now have a “buy” rating on the stock.
- 9/10/2016 – eBay had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $35.00 price target on the stock.
- 9/8/2016 – eBay was given a new $34.00 price target on by analysts at Goldman Sachs Group Inc.. They now have a “buy” rating on the stock.
- 8/30/2016 – eBay is now covered by analysts at Hilliard Lyons. They set a “long-term buy” rating and a $35.00 price target on the stock.
- 8/16/2016 – eBay was given a new $34.00 price target on by analysts at Goldman Sachs Group Inc.. They now have a “buy” rating on the stock.
- 8/14/2016 – eBay had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald.
eBay Inc. (NASDAQ:EBAY) traded down 0.048% during midday trading on Wednesday, reaching $31.445. 1,531,197 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $31.95 and its 200-day moving average price is $27.32. eBay Inc. has a 1-year low of $21.52 and a 1-year high of $33.19. The company has a market capitalization of $35.50 billion, a PE ratio of 19.327 and a beta of 1.17.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, July 20th. The e-commerce company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.17 billion. eBay had a net margin of 22.00% and a return on equity of 29.12%. eBay’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Equities analysts expect that eBay Inc. will post $1.89 EPS for the current year.
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In other news, Director Robert Holmes Swan sold 50,000 shares of the business’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $30.65, for a total transaction of $1,532,500.00. Following the transaction, the director now directly owns 425,288 shares in the company, valued at $13,035,077.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian J. Doerger sold 23,958 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $30.56, for a total transaction of $732,156.48. Following the transaction, the vice president now owns 48,605 shares in the company, valued at $1,485,368.80. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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