eBay (NASDAQ:EBAY) Stock Price Up 0.1% on Analyst Upgrade

eBay Inc. (NASDAQ:EBAY) rose 0.1% on Friday after Morgan Stanley raised their price target on the stock from $70.00 to $74.00. Morgan Stanley currently has an overweight rating on the stock. eBay traded as high as $68.88 and last traded at $67.75. 1,615,089 shares changed hands during trading, a decline of 68% from the average daily volume of 4,982,718 shares. The stock had previously closed at $67.67.

Other analysts also recently issued reports about the stock. BMO Capital Markets upped their target price on shares of eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Citigroup cut their price objective on shares of eBay from $80.00 to $79.00 and set a “buy” rating on the stock in a report on Friday, April 25th. TD Securities lifted their target price on shares of eBay from $62.00 to $64.00 and gave the company a “hold” rating in a report on Thursday. Piper Sandler raised their price objective on eBay from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Bank of America dropped their target price on eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $67.12.

Insiders Place Their Bets

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total transaction of $378,281.25. Following the sale, the chief executive officer now owns 530,998 shares in the company, valued at approximately $35,709,615.50. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the sale, the chief financial officer now owns 65,080 shares in the company, valued at $4,308,946.80. The trade was a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,310 shares of company stock worth $3,121,626. Company insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

Several institutional investors have recently made changes to their positions in EBAY. Pzena Investment Management LLC purchased a new stake in eBay during the 1st quarter valued at approximately $261,000. Kingsview Wealth Management LLC purchased a new position in eBay during the first quarter valued at $3,464,000. Graypoint LLC increased its holdings in eBay by 19.8% in the 1st quarter. Graypoint LLC now owns 5,127 shares of the e-commerce company’s stock valued at $347,000 after acquiring an additional 848 shares during the last quarter. Trust Investment Advisors purchased a new stake in eBay in the 1st quarter worth $231,000. Finally, Larson Financial Group LLC boosted its holdings in shares of eBay by 18.9% during the 1st quarter. Larson Financial Group LLC now owns 3,842 shares of the e-commerce company’s stock valued at $260,000 after purchasing an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

eBay Price Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm’s fifty day simple moving average is $65.83 and its 200 day simple moving average is $65.00. The firm has a market cap of $31.97 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.22 and a beta of 1.30.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. eBay had a return on equity of 30.97% and a net margin of 19.68%. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same period in the prior year, the company earned $1.25 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. As a group, analysts forecast that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, May 30th. eBay’s dividend payout ratio (DPR) is currently 27.62%.

eBay Company Profile

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.