eBay (NASDAQ:EBAY) Price Target Cut to $59.00

eBay (NASDAQ:EBAYGet Rating) had its price target lowered by equities researchers at Piper Sandler from $63.00 to $59.00 in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has an “overweight” rating on the e-commerce company’s stock. Piper Sandler’s price target points to a potential upside of 24.79% from the stock’s current price.

EBAY has been the topic of several other research reports. Sanford C. Bernstein began coverage on eBay in a research report on Monday, May 23rd. They set a “market perform” rating and a $50.00 price objective on the stock. The Goldman Sachs Group downgraded eBay from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $52.00 to $42.00 in a research report on Thursday, June 9th. Benchmark reduced their price objective on eBay from $71.00 to $67.00 in a research report on Thursday, May 5th. Deutsche Bank Aktiengesellschaft reduced their price objective on eBay from $60.00 to $50.00 in a research report on Thursday, July 21st. Finally, Credit Suisse Group lifted their price objective on eBay from $59.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, eBay presently has an average rating of “Hold” and an average target price of $60.89.

eBay Stock Performance

NASDAQ EBAY opened at $47.28 on Thursday. The company has a market cap of $26.47 billion, a PE ratio of 112.57, a price-to-earnings-growth ratio of 2.02 and a beta of 1.22. The stock’s 50 day simple moving average is $45.11 and its 200-day simple moving average is $51.11. eBay has a 1-year low of $40.52 and a 1-year high of $81.19. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.28 and a quick ratio of 1.48.

eBay (NASDAQ:EBAYGet Rating) last released its earnings results on Wednesday, August 3rd. The e-commerce company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.09. eBay had a return on equity of 24.42% and a net margin of 3.60%. During the same period in the prior year, the firm earned $0.82 EPS. As a group, equities research analysts anticipate that eBay will post 3.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Brian J. Doerger sold 3,633 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $47.95, for a total transaction of $174,202.35. Following the completion of the transaction, the chief accounting officer now directly owns 14,929 shares of the company’s stock, valued at approximately $715,845.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Brian J. Doerger sold 3,633 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $47.95, for a total transaction of $174,202.35. Following the completion of the transaction, the chief accounting officer now directly owns 14,929 shares of the company’s stock, valued at approximately $715,845.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Brian J. Doerger sold 7,942 shares of the business’s stock in a transaction on Monday, May 23rd. The stock was sold at an average price of $45.16, for a total value of $358,660.72. Following the transaction, the chief accounting officer now directly owns 18,562 shares of the company’s stock, valued at $838,259.92. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bellevue Asset Management LLC acquired a new position in shares of eBay during the 4th quarter worth about $27,000. EverSource Wealth Advisors LLC acquired a new position in shares of eBay during the 4th quarter worth about $27,000. Itau Unibanco Holding S.A. acquired a new position in shares of eBay during the 4th quarter worth about $29,000. Iron Horse Wealth Management LLC boosted its position in shares of eBay by 84.6% during the 1st quarter. Iron Horse Wealth Management LLC now owns 600 shares of the e-commerce company’s stock worth $34,000 after acquiring an additional 275 shares in the last quarter. Finally, Ellevest Inc. boosted its position in shares of eBay by 66.6% during the 1st quarter. Ellevest Inc. now owns 603 shares of the e-commerce company’s stock worth $35,000 after acquiring an additional 241 shares in the last quarter. 88.99% of the stock is owned by institutional investors and hedge funds.

About eBay

(Get Rating)

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.

Further Reading

Analyst Recommendations for eBay (NASDAQ:EBAY)

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