Mizuho Reaffirms “Underperform” Rating for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY)‘s stock had its “underperform” rating restated by analysts at Mizuho in a note issued to investors on Monday, Marketbeat Ratings reports. They presently have a $34.00 price target on the e-commerce company’s stock. Mizuho’s price target indicates a potential downside of 5.84% from the company’s previous close.
A number of other analysts have also recently commented on EBAY. Stifel Nicolaus reiterated a “hold” rating and set a $35.00 price objective on shares of eBay in a research report on Friday, April 14th. Goldman Sachs Group, Inc. (The) set a $42.00 price objective on eBay and gave the company a “buy” rating in a research report on Wednesday, June 28th. Argus upped their price objective on eBay from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, April 12th. Aegis reiterated a “buy” rating and set a $40.00 price objective (up previously from $38.00) on shares of eBay in a research report on Thursday, April 13th. Finally, 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. Three equities research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $36.97.
Shares of eBay (NASDAQ:EBAY) opened at 36.11 on Monday. The stock has a market capitalization of $38.65 billion, a price-to-earnings ratio of 5.42 and a beta of 1.36. eBay has a 52-week low of $27.28 and a 52-week high of $37.48. The company has a 50-day moving average price of $35.51 and a 200-day moving average price of $33.97. eBay also was the recipient of unusually large options trading on Monday. Traders acquired 4,033 call options on the stock. This represents an increase of approximately 484% compared to the typical volume of 690 call options.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $0.43 earnings per share. The company’s revenue was up 4.4% on a year-over-year basis. On average, equities analysts anticipate that eBay will post $2.00 earnings per share for the current year.
eBay declared that its Board of Directors has approved a stock buyback program on Thursday, July 20th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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In other eBay news, VP Brian J. Doerger sold 2,903 shares of the business’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $34.11, for a total transaction of $99,021.33. Following the completion of the transaction, the vice president now owns 30,701 shares of the company’s stock, valued at $1,047,211.11. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kathleen C. Mitic sold 11,897 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $33.84, for a total value of $402,594.48. Following the transaction, the director now directly owns 20,162 shares of the company’s stock, valued at approximately $682,282.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 75,206 shares of company stock valued at $2,659,043. Insiders own 6.78% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Capital One National Association increased its position in shares of eBay by 0.5% in the first quarter. Capital One National Association now owns 7,255 shares of the e-commerce company’s stock valued at $244,000 after buying an additional 39 shares during the last quarter. Trust Co. of Vermont increased its position in shares of eBay by 0.3% in the second quarter. Trust Co. of Vermont now owns 13,837 shares of the e-commerce company’s stock valued at $483,000 after buying an additional 40 shares during the last quarter. Welch & Forbes LLC increased its position in shares of eBay by 0.6% in the first quarter. Welch & Forbes LLC now owns 7,708 shares of the e-commerce company’s stock valued at $259,000 after buying an additional 45 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of eBay by 0.3% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 15,473 shares of the e-commerce company’s stock valued at $519,000 after buying an additional 50 shares during the last quarter. Finally, Alpha Windward LLC increased its position in shares of eBay by 1.1% in the first quarter. Alpha Windward LLC now owns 5,531 shares of the e-commerce company’s stock valued at $186,000 after buying an additional 59 shares during the last quarter. 86.48% of the stock is 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 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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