Morgan Stanley Analysts Give eBay Inc. (EBAY) a $34.00 Price Target
eBay Inc. (NASDAQ:EBAY) has been assigned a $34.00 target price by research analysts at Morgan Stanley in a note issued to investors on Thursday. The brokerage currently has a “sell” rating on the e-commerce company’s stock. Morgan Stanley’s price target would indicate a potential downside of 9.60% from the stock’s current price.
Several other research firms have also recently weighed in on EBAY. Aegis reaffirmed a “buy” rating and set a $44.00 price objective (up from $42.00) on shares of eBay in a research report on Tuesday, September 19th. Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price objective on shares of eBay in a research report on Monday, October 16th. Piper Jaffray Companies set a $34.00 price objective on eBay and gave the stock a “hold” rating in a research report on Wednesday, October 11th. KeyCorp reaffirmed a “hold” rating on shares of eBay in a research report on Wednesday, October 11th. Finally, DA Davidson assumed coverage on eBay in a research report on Wednesday, September 13th. They set a “buy” rating and a $45.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and eighteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.22.
Shares of eBay (NASDAQ EBAY) traded up 0.86% during midday trading on Thursday, reaching $37.61. The company’s stock had a trading volume of 15,106,178 shares. The stock has a 50-day moving average of $38.08 and a 200 day moving average of $35.62. The company has a market cap of $39.29 billion, a price-to-earnings ratio of 5.60 and a beta of 1.36. eBay has a 12 month low of $27.28 and a 12 month high of $39.28.
eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.37 billion. eBay had a return on equity of 15.69% and a net margin of 80.45%. eBay’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share. On average, analysts predict that eBay will post $2.00 earnings per share for the current fiscal 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 outstanding 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 often an indication that the company’s board believes its stock is undervalued.
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In other news, VP Brian J. Doerger sold 10,450 shares of eBay stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total value of $382,052.00. Following the transaction, the vice president now owns 24,001 shares in the company, valued at approximately $877,476.56. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Stephen Fisher sold 11,956 shares of eBay stock in a transaction on Monday, July 24th. The shares were sold at an average price of $36.24, for a total value of $433,285.44. Following the completion of the transaction, the senior vice president now owns 89,740 shares in the company, valued at approximately $3,252,177.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,238 shares of company stock worth $3,439,297. Corporate insiders own 6.78% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of eBay by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 68,101,836 shares of the e-commerce company’s stock valued at $2,378,116,000 after purchasing an additional 1,121,890 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of eBay by 2,424.9% during the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock valued at $2,095,089,000 after acquiring an additional 59,937,723 shares in the last quarter. Independent Franchise Partners LLP boosted its holdings in shares of eBay by 17.6% during the 2nd quarter. Independent Franchise Partners LLP now owns 19,322,583 shares of the e-commerce company’s stock valued at $674,744,000 after acquiring an additional 2,898,085 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of eBay by 2.4% during the 2nd quarter. Nordea Investment Management AB now owns 15,289,334 shares of the e-commerce company’s stock valued at $533,904,000 after acquiring an additional 360,664 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of eBay by 4.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 13,700,034 shares of the e-commerce company’s stock valued at $459,911,000 after acquiring an additional 604,985 shares in the last quarter. Institutional investors own 84.85% 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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