eBay (NASDAQ:EBAY) had its target price upped by stock analysts at Bank of America from $44.00 to $52.00 in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the e-commerce company’s stock. Bank of America’s price target points to a potential upside of 12.58% from the company’s previous close.
EBAY has been the topic of several other reports. Guggenheim assumed coverage on shares of eBay in a research report on Friday, October 20th. They set a “neutral” rating on the stock. Aegis restated a “buy” rating and set a $45.00 price objective on shares of eBay in a research report on Friday, December 22nd. UBS Group restated a “buy” rating and set a $48.00 price objective (up from $44.00) on shares of eBay in a research report on Thursday. Benchmark restated a “buy” rating and set a $45.00 price objective on shares of eBay in a research report on Thursday, October 19th. Finally, Morgan Stanley set a $34.00 price objective on shares of eBay and gave the company a “sell” rating in a research report on Thursday, October 19th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nineteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $42.87.
Shares of eBay (EBAY) traded up $5.61 during mid-day trading on Thursday, hitting $46.19. 33,174,045 shares of the stock traded hands, compared to its average volume of 8,940,000. The company has a market cap of $48,250.00, a P/E ratio of 6.82, a price-to-earnings-growth ratio of 2.81 and a beta of 1.34. eBay has a 12-month low of $31.80 and a 12-month high of $46.99. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.82.
eBay declared that its Board of Directors has approved a share repurchase program on Wednesday, January 31st that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the e-commerce company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
In other eBay news, SVP Raymond J. Pittman sold 31,400 shares of eBay stock in a transaction on Friday, November 17th. The shares were sold at an average price of $35.58, for a total value of $1,117,212.00. Following the completion of the transaction, the senior vice president now directly owns 74,334 shares of the company’s stock, valued at approximately $2,644,803.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian J. Doerger sold 6,660 shares of eBay stock in a transaction on Monday, November 27th. The stock was sold at an average price of $35.99, for a total transaction of $239,693.40. Following the completion of the transaction, the vice president now directly owns 16,732 shares of the company’s stock, valued at $602,184.68. The disclosure for this sale can be found here. Insiders sold a total of 42,419 shares of company stock valued at $1,512,740 over the last three months. Corporate insiders own 6.78% of the company’s stock.
Several large investors have recently modified their holdings of the business. Independent Franchise Partners LLP boosted its stake in shares of eBay by 17.6% during the 3rd quarter. Independent Franchise Partners LLP now owns 22,728,844 shares of the e-commerce company’s stock worth $874,151,000 after purchasing an additional 3,406,261 shares during the period. Nordea Investment Management AB boosted its stake in shares of eBay by 20.4% during the 3rd quarter. Nordea Investment Management AB now owns 18,407,787 shares of the e-commerce company’s stock worth $707,963,000 after purchasing an additional 3,118,453 shares during the period. Glenview Capital Management LLC boosted its stake in shares of eBay by 442.0% during the 2nd quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after purchasing an additional 7,262,862 shares during the period. Sanders Capital LLC boosted its stake in shares of eBay by 6.9% during the 4th quarter. Sanders Capital LLC now owns 5,989,000 shares of the e-commerce company’s stock worth $248,814,000 after purchasing an additional 389,100 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in shares of eBay by 134.5% during the 2nd quarter. Janus Henderson Group PLC now owns 5,951,860 shares of the e-commerce company’s stock worth $207,826,000 after purchasing an additional 3,414,163 shares during the period. 85.95% of the stock is owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: This news story was first posted by American Market News and is the property of of American Market News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of international copyright & trademark law. The correct version of this news story can be read at https://www.americanbankingnews.com/2018/02/01/bank-of-america-boosts-ebay-ebay-price-target-to-52-00.html.
About eBay
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.
