Canaccord Genuity Raises eBay Inc. (EBAY) Price Target to $35.00
eBay Inc. (NASDAQ:EBAY) had its target price hoisted by equities research analysts at Canaccord Genuity from $34.00 to $35.00 in a report issued on Tuesday. The brokerage presently has a “hold” rating on the e-commerce company’s stock. Canaccord Genuity’s target price would indicate a potential downside of 6.14% from the company’s current price.
A number of other equities research analysts also recently weighed in on EBAY. Cantor Fitzgerald reaffirmed a “hold” rating on shares of eBay in a research note on Monday, June 26th. Aegis raised their price target on eBay from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) set a $42.00 price target on eBay and gave the stock a “buy” rating in a research note on Wednesday, June 28th. Robert W. Baird reaffirmed an “outperform” rating on shares of eBay in a research note on Monday, July 3rd. Finally, Jefferies Group LLC set a $36.00 price target on eBay and gave the stock a “hold” rating in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.19.
Shares of eBay (EBAY) traded down 1.79% during mid-day trading on Tuesday, hitting $37.29. The stock had a trading volume of 29,028,229 shares. The firm has a market cap of $39.91 billion, a price-to-earnings ratio of 5.59 and a beta of 1.36. eBay has a one year low of $27.28 and a one year high of $39.28. The company has a 50-day moving average of $37.99 and a 200 day moving average of $35.58.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.48. eBay had a return on equity of 17.50% and a net margin of 80.93%. The company had revenue of $2.41 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the business earned $0.45 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that eBay will post $2.00 earnings per share for the current year.
eBay declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
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In other news, SVP Stephen Fisher sold 11,956 shares of eBay stock in a transaction 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 directly owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction on 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 sale, the director now directly owns 262,119 shares of the company’s stock, valued at $9,832,083.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,238 shares of company stock valued at $3,439,297. Corporate insiders own 6.78% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors acquired a new stake in shares of eBay in the 2nd quarter valued at $108,000. BB&T Investment Services Inc. acquired a new stake in shares of eBay in the 2nd quarter valued at $119,000. Westside Investment Management Inc. increased its stake in shares of eBay by 284.0% in the 1st 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 period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of eBay in the 2nd quarter valued at $123,000. Finally, FNY Partners Fund LP increased its stake in shares of eBay by 660.0% in the 1st 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 period. 84.85% of the stock is 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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