eBay Inc. (EBAY) PT Set at $34.00 by Goldman Sachs Group Inc.
eBay Inc. (NASDAQ:EBAY) has been assigned a $34.00 target price by equities research analysts at Goldman Sachs Group Inc. in a report released on Friday. The firm presently has a a “buy” rating on the e-commerce company’s stock. Goldman Sachs Group Inc.’s target price would indicate a potential upside of 7.90% from the stock’s current price.
A number of other research analysts have also recently commented on EBAY. Cantor Fitzgerald reiterated a “hold” rating on shares of eBay in a research report on Saturday, July 9th. Deutsche Bank AG reiterated a “hold” rating on shares of eBay in a research report on Sunday, July 10th. Jefferies Group reiterated a “hold” rating and set a $32.00 price target on shares of eBay in a research report on Monday, July 18th. Canaccord Genuity increased their price target on shares of eBay from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Thursday, July 21st. Finally, Robert W. Baird increased their price target on shares of eBay from $30.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, July 21st. Three investment 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 issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $33.66.
eBay (NASDAQ:EBAY) opened at 31.51 on Friday. The firm has a market cap of $35.58 billion, a P/E ratio of 19.37 and a beta of 1.17. The stock has a 50 day moving average of $31.98 and a 200-day moving average of $27.38. eBay has a 12 month low of $21.51 and a 12 month high of $33.19.
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eBay (NASDAQ:EBAY) last issued its quarterly earnings results 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. eBay had a net margin of 22.00% and a return on equity of 29.12%. The business had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts predict that eBay will post $1.89 earnings per share for the current fiscal year.
In other news, SVP Raymond J. Pittman sold 39,030 shares of the business’s stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total transaction of $1,254,424.20. Following the transaction, the senior vice president now owns 32,738 shares of the company’s stock, valued at approximately $1,052,199.32. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Jae Hyun Lee sold 3,222 shares of the business’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $31.53, for a total value of $101,589.66. Following the transaction, the senior vice president now directly owns 107,154 shares in the company, valued at approximately $3,378,565.62. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock valued at $501,033,000 after buying an additional 13,838,953 shares in the last quarter. Wellington Management Group LLP increased its position in shares of eBay by 344.6% in the first quarter. Wellington Management Group LLP now owns 11,298,332 shares of the e-commerce company’s stock valued at $269,578,000 after buying an additional 8,756,950 shares during the period. Lazard Asset Management LLC increased its position in shares of eBay by 78.9% in the first quarter. Lazard Asset Management LLC now owns 16,144,360 shares of the e-commerce company’s stock valued at $385,203,000 after buying an additional 7,117,937 shares during the period. Magellan Asset Management Ltd increased its position 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 valued at $986,781,000 after buying an additional 5,833,160 shares during the period. Finally, Eaton Vance Management increased its position in shares of eBay by 279.0% in the second quarter. Eaton Vance Management now owns 5,687,842 shares of the e-commerce company’s stock valued at $133,152,000 after buying an additional 4,187,045 shares during the period. 82.00% of the stock is currently owned by hedge funds and other 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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