eBay Inc. (EBAY) Given a $34.00 Price Target by Goldman Sachs Group Inc. Analysts
eBay Inc. (NASDAQ:EBAY) received a $34.00 target price from analysts at Goldman Sachs Group Inc. in a report issued on Friday. The brokerage presently has a a “buy” rating on the e-commerce company’s stock. Goldman Sachs Group Inc.’s price target indicates a potential upside of 7.90% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Deutsche Bank AG restated a “hold” rating on shares of eBay in a research report on Sunday, July 10th. Cantor Fitzgerald reiterated a “hold” rating on shares of eBay in a report on Saturday, July 9th. Pacific Crest downgraded eBay to a “sell” rating in a report on Saturday, October 1st. Wedbush reiterated a “neutral” rating and issued a $34.00 price target (up from $29.00) on shares of eBay in a report on Thursday. Finally, Monness Crespi & Hardt increased their price target on eBay from $29.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, July 21st. Three research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $33.66.
Shares of eBay (NASDAQ:EBAY) opened at 31.51 on Friday. eBay has a 12-month low of $21.51 and a 12-month high of $33.19. The company has a market capitalization of $35.58 billion, a P/E ratio of 19.37 and a beta of 1.17. The firm has a 50-day moving average price of $31.98 and a 200 day moving average price of $27.38.
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eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. eBay had a return on equity of 29.12% and a net margin of 22.00%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities research analysts predict that eBay will post $1.89 earnings per share for the current year.
In other eBay news, VP Brian J. Doerger sold 23,958 shares of the business’s stock in a transaction that occurred on 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 $1,485,368.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Raymond J. Pittman sold 39,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The shares were sold at an average price of $32.14, for a total value of $1,254,424.20. Following the completion of the sale, the senior vice president now directly owns 32,738 shares in the company, valued at approximately $1,052,199.32. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Magellan Asset Management Ltd raised its stake in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock worth $986,781,000 after buying an additional 5,833,160 shares during the last quarter. Boston Partners raised its stake in shares of eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock worth $592,941,000 after buying an additional 2,463,595 shares during the last quarter. Independent Franchise Partners LLP raised its stake in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock worth $544,605,000 after buying an additional 3,485,706 shares during the last quarter. FMR LLC raised its stake in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock worth $501,033,000 after buying an additional 13,838,953 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of eBay by 3.8% in the second quarter. Bank of New York Mellon Corp now owns 17,606,906 shares of the e-commerce company’s stock worth $412,178,000 after buying an additional 647,064 shares during the last quarter. 82.00% of the stock is currently owned by institutional investors.
eBay Company Profile
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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