eBay Inc. (EBAY) Price Target Raised to $40.00 at Bank of America Corporation
eBay Inc. (NASDAQ:EBAY) had its target price boosted by equities research analysts at Bank of America Corporation from $38.00 to $40.00 in a note issued to investors on Friday. The brokerage currently has a “buy” rating on the e-commerce company’s stock. Bank of America Corporation’s target price would suggest a potential upside of 9.26% from the company’s current price.
Several other brokerages also recently issued reports on EBAY. Credit Suisse Group upgraded eBay from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $44.00 in a research report on Monday, June 5th. Robert W. Baird restated an “outperform” rating on shares of eBay in a research report on Monday, July 3rd. UBS AG set a $40.00 price objective on eBay and gave the company a “buy” rating in a research report on Friday. Royal Bank Of Canada restated a “hold” rating and issued a $34.00 price objective on shares of eBay in a research report on Thursday, April 13th. Finally, BidaskClub upgraded eBay from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Two equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. eBay presently has a consensus rating of “Hold” and a consensus target price of $36.58.
Shares of eBay (NASDAQ:EBAY) traded down 1.53% on Friday, hitting $36.61. The stock had a trading volume of 22,222,085 shares. The firm has a 50 day moving average of $35.28 and a 200 day moving average of $33.60. eBay has a 12 month low of $27.28 and a 12 month high of $37.48. The stock has a market cap of $39.62 billion, a P/E ratio of 5.27 and a beta of 1.36. eBay also saw unusually large options trading on Wednesday. Traders bought 2,194 put options on the company. This represents an increase of 231% compared to the average volume of 663 put options.
eBay (NASDAQ:EBAY) last posted its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. eBay had a return on equity of 20.44% and a net margin of 86.31%. eBay’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 earnings per share. On average, equities analysts forecast that eBay will post $2.01 earnings per share for the current fiscal year.
eBay announced that its board has authorized a share repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the e-commerce company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
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In other eBay news, VP Brian J. Doerger sold 12,904 shares of eBay stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $33.57, for a total transaction of $433,187.28. Following the sale, the vice president now directly owns 33,604 shares of the company’s stock, valued at $1,128,086.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total value of $875,000.00. Following the sale, the director now directly owns 286,562 shares in the company, valued at $10,029,670. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,712 shares of company stock worth $2,877,612. 6.78% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. increased its stake in eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock worth $121,000 after buying an additional 2,638 shares during the last quarter. FNY Partners Fund LP increased its stake in eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after buying an additional 3,300 shares during the last quarter. Parallel Advisors LLC increased its stake in eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock worth $140,000 after buying an additional 858 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in eBay by 100.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock worth $149,000 after buying an additional 2,230 shares during the last quarter. Finally, First Personal Financial Services increased its stake in eBay by 611.8% in the first quarter. First Personal Financial Services now owns 4,883 shares of the e-commerce company’s stock worth $164,000 after buying an additional 4,197 shares during the last quarter. 85.02% 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 connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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