eBay Inc. (EBAY) Earns Hold Rating from Analysts at SunTrust Banks, Inc.
Investment analysts at SunTrust Banks, Inc. started coverage on shares of eBay Inc. (NASDAQ:EBAY) in a report issued on Tuesday, The Fly reports. The firm set a “hold” rating on the e-commerce company’s stock.
EBAY has been the topic of several other research reports. Macquarie reissued a “neutral” rating and set a $39.00 target price on shares of eBay in a research note on Tuesday, April 18th. Credit Suisse Group AG raised eBay to a “buy” rating and set a $44.00 target price on the stock in a research note on Monday, June 12th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $39.00 price target (up previously from $38.00) on shares of eBay in a report on Thursday, April 20th. Bank of America Corporation raised their price target on eBay from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 21st. Finally, Cowen and Company restated a “market perform” rating and set a $30.00 price target on shares of eBay in a report on Wednesday, April 19th. Three investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $36.97.
Shares of eBay (EBAY) traded up 0.14% during midday trading on Tuesday, hitting $35.25. The stock had a trading volume of 4,588,469 shares. The firm has a market cap of $37.73 billion, a price-to-earnings ratio of 5.29 and a beta of 1.36. The stock’s 50 day moving average price is $35.76 and its 200 day moving average price is $34.30. eBay has a 12 month low of $27.28 and a 12 month high of $37.48.
eBay (NASDAQ:EBAY) last issued its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, meeting the 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 17.50% and a net margin of 80.93%. The firm’s quarterly revenue was up 4.4% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. On average, equities analysts forecast that eBay will post $2.01 EPS for the current fiscal year.
eBay announced that its board has approved a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the e-commerce company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
In related news, SVP Stephen Fisher sold 11,956 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the completion of the sale, the senior vice president now owns 89,740 shares of the company’s stock, valued at $3,252,177.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kathleen C. Mitic sold 11,897 shares of the stock in a transaction that occurred 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 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 ninety days, insiders sold 72,303 shares of company stock valued at $2,560,022. Insiders own 6.78% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors acquired a new position in shares of eBay during the second quarter valued at $108,000. BB&T Investment Services Inc. acquired a new position in shares of eBay during the second quarter valued at $119,000. Westside Investment Management Inc. raised its position in shares of eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after buying an additional 2,638 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of eBay during the second quarter valued at $123,000. Finally, FNY Partners Fund LP raised its position in shares of eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after buying an additional 3,300 shares during the last quarter. Institutional investors own 85.71% of the company’s stock.
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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