eBay Inc. (EBAY) Receives Neutral Rating from Wedbush
eBay Inc. (NASDAQ:EBAY)‘s stock had its “neutral” rating reissued by investment analysts at Wedbush in a note issued to investors on Thursday. They currently have a $34.00 price target on the e-commerce company’s stock, up from their prior price target of $29.00. Wedbush’s target price would suggest a potential upside of 7.90% from the stock’s previous close.
A number of other brokerages have also commented on EBAY. SunTrust Banks Inc. reiterated a “neutral” rating and issued a $26.00 price objective on shares of eBay in a report on Monday, July 18th. Monness Crespi & Hardt boosted their price objective on shares of eBay from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Goldman Sachs Group Inc. set a $34.00 price objective on shares of eBay and gave the stock a “buy” rating in a report on Thursday, September 8th. Sanford C. Bernstein set a $41.00 price objective on shares of eBay and gave the stock a “buy” rating in a report on Wednesday. Finally, Deutsche Bank AG boosted their price objective on shares of eBay from $28.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, July 21st. Three equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. eBay currently has a consensus rating of “Hold” and an average price target of $33.66.
eBay (NASDAQ:EBAY) traded up 0.03% during trading on Thursday, hitting $31.51. The company had a trading volume of 10,798,720 shares. The company has a market cap of $35.58 billion, a PE ratio of 19.37 and a beta of 1.17. The company’s 50 day moving average price is $31.98 and its 200-day moving average price is $27.38. eBay has a 12 month low of $21.51 and a 12 month high of $33.19.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/13/ebay-inc-ebay-coverage-initiated-by-analysts-at-wedbush.html
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. eBay had a net margin of 22.00% and a return on equity of 29.12%. The firm earned $2.23 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 5.7% on a year-over-year basis. Equities analysts expect that eBay will post $1.89 earnings per share for the current year.
In related news, Director Robert Holmes Swan sold 50,000 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $31.95, for a total transaction of $1,597,500.00. Following the completion of the sale, the director now owns 375,928 shares in the company, valued at $12,010,899.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian J. Doerger sold 23,958 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $30.56, for a total value of $732,156.48. Following the sale, the vice president now owns 48,605 shares of the company’s stock, valued at approximately $1,485,368.80. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. AMP Capital Investors Ltd boosted its stake in eBay by 18.6% in the first quarter. AMP Capital Investors Ltd now owns 1,632,449 shares of the e-commerce company’s stock valued at $39,243,000 after buying an additional 255,722 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in eBay by 3.4% in the second quarter. Cullen Frost Bankers Inc. now owns 795,774 shares of the e-commerce company’s stock valued at $18,629,000 after buying an additional 25,907 shares in the last quarter. Davis R M Inc. boosted its stake in eBay by 36.4% in the second quarter. Davis R M Inc. now owns 12,000 shares of the e-commerce company’s stock valued at $281,000 after buying an additional 3,200 shares in the last quarter. Zurich Insurance Group Ltd FI acquired a new stake in eBay during the first quarter valued at about $2,887,000. Finally, Creative Planning boosted its stake in eBay by 19.2% in the second quarter. Creative Planning now owns 22,906 shares of the e-commerce company’s stock valued at $536,000 after buying an additional 3,683 shares in the last quarter. Hedge funds and other institutional investors own 82.00% 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.
Receive News & Ratings for eBay Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay Inc. and related companies with MarketBeat.com's FREE daily email newsletter.