Royal Bank Of Canada Reaffirms Sector Perform Rating for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY)‘s stock had its “sector perform” rating reiterated by Royal Bank Of Canada in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $39.00 price target on the e-commerce company’s stock, up from their prior price target of $36.00. Royal Bank Of Canada’s price objective would indicate a potential upside of 3.70% from the company’s previous close.
A number of other research analysts have also issued reports on the company. Macquarie set a $40.00 target price on eBay and gave the stock a “neutral” rating in a report on Wednesday. BMO Capital Markets reiterated a “market perform” rating and issued a $40.00 price target on shares of eBay in a research report on Wednesday. Canaccord Genuity increased their price target on eBay from $34.00 to $35.00 and gave the company a “hold” rating in a research report on Tuesday, October 17th. Robert W. Baird reiterated a “buy” rating and issued a $38.00 price target on shares of eBay in a research report on Monday, October 16th. Finally, KeyCorp reiterated a “hold” rating on shares of eBay in a research report on Wednesday, October 11th. Three investment analysts have rated the stock with a sell rating, twenty-two have given a hold rating and eighteen have given a buy rating to the stock. eBay presently has an average rating of “Hold” and a consensus price target of $38.22.
Shares of eBay (EBAY) traded up 0.86% during midday trading on Thursday, hitting $37.61. 15,105,890 shares of the company’s stock traded hands. eBay has a 52 week low of $27.28 and a 52 week high of $39.28. The company has a 50 day moving average of $38.08 and a 200 day moving average of $35.62. The stock has a market cap of $39.29 billion, a P/E ratio of 5.60 and a beta of 1.36.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.37 billion. eBay had a return on equity of 15.69% and a net margin of 80.45%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company earned $0.45 earnings per share. On average, equities analysts forecast that eBay will post $2.00 EPS for the current fiscal year.
eBay announced that its Board of Directors has approved a share repurchase plan on Thursday, July 20th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the e-commerce company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.
In related news, SVP Stephen Fisher sold 11,956 shares of the business’s 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert Holmes Swan sold 25,000 shares of the business’s 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 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. Insiders sold a total of 95,238 shares of company stock valued at $3,439,297 over the last ninety days. 6.78% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in 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 buying an additional 1,121,890 shares in the last quarter. BlackRock Inc. increased its position in eBay by 2,424.9% in 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 buying an additional 59,937,723 shares in the last quarter. Independent Franchise Partners LLP increased its position in eBay by 17.6% in 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 buying an additional 2,898,085 shares in the last quarter. Nordea Investment Management AB increased its position in eBay by 2.4% in 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 buying an additional 360,664 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in eBay by 4.6% in 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 buying an additional 604,985 shares in the last quarter. 84.85% of the stock is owned by institutional investors and hedge funds.
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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