Benchmark Co. Reiterates “Buy” Rating for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark Co. in a note issued to investors on Friday. They currently have a $45.00 target price on the e-commerce company’s stock. Benchmark Co.’s target price points to a potential upside of 17.65% from the company’s previous close.
The analysts wrote, “We are raising our 2018 projections, resulting in our incremental price target increase from $40 to $45 per share. While we believe the general benefits from the SD initiative are broadly appreciated, we think the migration to SEM remains largely under-discussed, likely because of its longer-tailed, less immediate beneficial nature. While the SEO benefits are largely apparent, as well as the site optimization efforts via increases in quality landing page traffic, increases in conversion and wallet share remain a key missing ingredient that we suspect will also have a further fly wheel effect on users, traffic and leverage via word-of-mouth marketing.””
EBAY has been the subject of a number of other research reports. J P Morgan Chase & Co set a $38.00 target price on eBay and gave the stock a “neutral” rating in a research report on Friday, July 21st. BMO Capital Markets reaffirmed a “market perform” rating and set a $36.00 target price on shares of eBay in a research report on Saturday, July 22nd. Canaccord Genuity reaffirmed a “hold” rating and set a $34.00 target price on shares of eBay in a research report on Wednesday, September 6th. Vetr raised eBay from a “hold” rating to a “buy” rating and set a $37.30 target price for the company in a research report on Monday, June 12th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $38.00 target price on shares of eBay in a research report on Monday, June 12th. Three investment analysts have rated the stock with a sell rating, twenty have issued a hold rating and eighteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $37.44.
Shares of eBay (NASDAQ EBAY) opened at 38.25 on Friday. eBay has a 1-year low of $27.28 and a 1-year high of $38.87. The stock has a market cap of $40.94 billion, a price-to-earnings ratio of 5.74 and a beta of 1.34. The stock’s 50 day moving average is $36.16 and its 200-day moving average is $34.85.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 EPS. On average, analysts anticipate that eBay will post $2.00 EPS for the current year.
eBay declared that its board has authorized a stock 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 buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
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In other eBay news, SVP Stephen Fisher sold 11,956 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the transaction, 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 Securities & Exchange Commission, which is available at this link. Also, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the transaction, the director now directly owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. Insiders sold 95,238 shares of company stock worth $3,439,297 in the last three months. Insiders own 6.78% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Intl Fcstone Inc. acquired a new position in eBay in the second quarter valued at about $612,000. USA Financial Portformulas Corp acquired a new position in eBay in the second quarter valued at about $2,952,000. Toronto Dominion Bank lifted its stake in eBay by 24.9% in the second quarter. Toronto Dominion Bank now owns 341,309 shares of the e-commerce company’s stock valued at $11,916,000 after buying an additional 67,938 shares during the period. Oak Associates Ltd. OH lifted its stake in eBay by 7.4% in the second quarter. Oak Associates Ltd. OH now owns 556,160 shares of the e-commerce company’s stock valued at $19,421,000 after buying an additional 38,300 shares during the period. Finally, U S Global Investors Inc. acquired a new position in eBay in the second quarter valued at about $2,127,000. 84.83% of the stock is currently 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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