eBay (NASDAQ:EBAY) has been given a $46.00 price target by stock analysts at Macquarie in a report released on Thursday. The brokerage presently has a “neutral” rating on the e-commerce company’s stock. Macquarie’s price target indicates a potential downside of 0.24% from the stock’s previous close.
Several other brokerages have also recently issued reports on EBAY. Credit Suisse Group upped their price target on shares of eBay from $44.00 to $46.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. UBS Group set a $44.00 price target on shares of eBay and gave the company a “buy” rating in a research report on Thursday, January 11th. Goldman Sachs Group set a $40.00 price target on shares of eBay and gave the company a “buy” rating in a research report on Thursday, October 19th. Mizuho restated an “underperform” rating and issued a $40.00 price target (up from $34.00) on shares of eBay in a research report on Thursday. Finally, Royal Bank of Canada upgraded shares of eBay from a “sector perform” rating to an “outperform” rating and set a $51.00 price target for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.53.
eBay (NASDAQ EBAY) traded up $5.53 during mid-day trading on Thursday, reaching $46.11. 28,817,084 shares of the company were exchanged, compared to its average volume of 10,759,019. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.46 and a current ratio of 2.46. eBay has a twelve month low of $31.80 and a twelve month high of $46.99. The firm has a market cap of $48,520.00, a PE ratio of 6.92, a price-to-earnings-growth ratio of 2.81 and a beta of 1.34.
eBay declared that its Board of Directors has initiated a stock buyback program on Wednesday, January 31st that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to purchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, VP Brian J. Doerger sold 4,359 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $35.75, for a total transaction of $155,834.25. Following the transaction, the vice president now directly owns 23,392 shares of the company’s stock, valued at $836,264. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Raymond J. Pittman sold 31,400 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $35.58, for a total transaction of $1,117,212.00. Following the transaction, the senior vice president now directly owns 74,334 shares in the company, valued at $2,644,803.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,419 shares of company stock worth $1,512,740. 6.78% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc lifted its stake in shares of eBay by 2.5% in the third quarter. Legal & General Group Plc now owns 5,304,279 shares of the e-commerce company’s stock valued at $203,988,000 after buying an additional 128,728 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of eBay by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 5,261,101 shares of the e-commerce company’s stock valued at $183,717,000 after buying an additional 668,503 shares in the last quarter. Colony Group LLC bought a new position in shares of eBay in the second quarter valued at $213,000. Canada Pension Plan Investment Board lifted its stake in shares of eBay by 19.1% in the third quarter. Canada Pension Plan Investment Board now owns 3,215,057 shares of the e-commerce company’s stock valued at $123,651,000 after buying an additional 515,634 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in shares of eBay by 11.0% in the third quarter. Toronto Dominion Bank now owns 378,963 shares of the e-commerce company’s stock valued at $14,574,000 after buying an additional 37,654 shares in the last quarter. 85.95% of the stock is currently owned by hedge funds and other institutional investors.
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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.
