Benchmark Co. Raises eBay Inc. (EBAY) Price Target to $38.00
eBay Inc. (NASDAQ:EBAY) had its target price raised by investment analysts at Benchmark Co. from $33.00 to $38.00 in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the e-commerce company’s stock. Benchmark Co.’s price objective would suggest a potential upside of 19.16% from the company’s current price.
A number of other brokerages have also issued reports on EBAY. Pacific Crest lowered eBay to a “sell” rating in a research report on Saturday, October 1st. Canaccord Genuity restated a “hold” rating and issued a $28.00 price objective on shares of eBay in a report on Tuesday, October 4th. Goldman Sachs Group Inc. set a $34.00 price objective on eBay and gave the company a “buy” rating in a report on Thursday, September 8th. Axiom Securities upped their price objective on eBay from $34.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, September 13th. Finally, Robert W. Baird restated an “outperform” rating and issued a $35.00 price objective on shares of eBay in a report on Saturday, September 10th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.80.
Shares of eBay (NASDAQ:EBAY) opened at 31.89 on Monday. The firm has a market capitalization of $36.00 billion, a P/E ratio of 19.60 and a beta of 1.17. The stock has a 50 day moving average price of $31.99 and a 200 day moving average price of $27.43. eBay has a 12-month low of $21.52 and a 12-month high of $33.19.
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eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.01. eBay had a return on equity of 29.12% and a net margin of 22.00%. The company earned $2.23 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. Equities analysts anticipate 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 firm’s stock in a transaction on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total value of $1,254,424.20. Following the transaction, the senior vice president now directly owns 32,738 shares in the company, valued at approximately $1,052,199.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian J. Doerger sold 23,958 shares of the firm’s stock in a transaction 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 completion of 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. 7.40% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. Magellan Asset Management Ltd raised its position in 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 in the last quarter. Boston Partners raised its position in eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock valued at $592,941,000 after buying an additional 2,463,595 shares in the last quarter. Independent Franchise Partners LLP raised its position in 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 valued at $544,605,000 after buying an additional 3,485,706 shares in the last quarter. FMR LLC raised 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. Finally, Bank of New York Mellon Corp raised its position in 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 valued at $412,178,000 after buying an additional 647,064 shares in the last quarter. Institutional investors and hedge funds own 82.07% 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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