eBay Inc. (NASDAQ:EBAY) Rating Reiterated by Citigroup Inc.
eBay Inc. (NASDAQ:EBAY)‘s stock had its “buy” rating reissued by research analysts at Citigroup Inc. in a research report issued on Friday. They presently have a $43.00 price target on the e-commerce company’s stock. Citigroup Inc.’s target price indicates a potential upside of 17.45% from the stock’s current price.
A number of other brokerages also recently issued reports on EBAY. Credit Suisse Group upgraded shares of eBay from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $44.00 in a research note on Monday, June 5th. Robert W. Baird reiterated an “outperform” rating on shares of eBay in a research note on Monday, July 3rd. UBS AG set a $40.00 price objective on shares of eBay and gave the stock a “buy” rating in a research report on Friday. Royal Bank Of Canada restated a “hold” rating and set a $34.00 price objective on shares of eBay in a research report on Thursday, April 13th. Finally, BidaskClub upgraded shares of eBay from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $36.48.
Shares of eBay (EBAY) traded down 1.53% during midday trading on Friday, hitting $36.61. 22,216,739 shares of the stock traded hands. eBay has a 52-week low of $27.28 and a 52-week high of $37.48. The stock has a 50-day moving average of $35.28 and a 200-day moving average of $33.60. The company has a market cap of $39.62 billion, a price-to-earnings ratio of 5.27 and a beta of 1.36. eBay also saw unusually large options trading activity on Wednesday. Stock investors purchased 2,194 put options on the company. This represents an increase of approximately 231% compared to the average daily volume of 663 put options.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a net margin of 86.31% and a return on equity of 20.44%. The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the firm earned $0.43 earnings per share. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. On average, equities analysts predict that eBay will post $2.01 earnings per share for the current fiscal year.
eBay announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
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In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathleen C. Mitic sold 11,897 shares of the firm’s stock in a transaction on Thursday, May 18th. The shares were sold at an average price of $33.84, for a total value of $402,594.48. Following the completion of the sale, the director now owns 20,162 shares in the company, valued at $682,282.08. The disclosure for this sale can be found here. Insiders sold 85,712 shares of company stock worth $2,877,612 over the last quarter. 6.78% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of EBAY. USA Financial Portformulas Corp bought a new stake in eBay during the fourth quarter worth about $5,303,000. Kentucky Retirement Systems bought a new stake in eBay during the fourth quarter worth about $2,240,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in eBay during the fourth quarter worth about $999,000. Searle & CO. bought a new stake in eBay during the fourth quarter worth about $354,000. Finally, Capital Investment Services of America Inc. boosted its stake in eBay by 3.8% in the first quarter. Capital Investment Services of America Inc. now owns 278,186 shares of the e-commerce company’s stock worth $9,339,000 after buying an additional 10,276 shares during the last quarter. Institutional investors own 85.02% of the company’s stock.
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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