Investors Buy eBay Inc. (EBAY) on Weakness
Traders purchased shares of eBay Inc. (NASDAQ:EBAY) on weakness during trading on Monday. $77.38 million flowed into the stock on the tick-up and $27.12 million flowed out of the stock on the tick-down, for a money net flow of $50.26 million into the stock. Of all stocks tracked, eBay had the 7th highest net in-flow for the day. eBay traded down ($0.31) for the day and closed at $30.89
A number of research firms have weighed in on EBAY. Jefferies Group reaffirmed a “hold” rating on shares of eBay in a report on Monday, August 1st. Robert W. Baird reaffirmed an “outperform” rating and set a $35.00 price objective on shares of eBay in a report on Monday, August 1st. Goldman Sachs Group Inc. set a $34.00 price objective on eBay and gave the company a “buy” rating in a report on Tuesday. Cantor Fitzgerald reaffirmed a “hold” rating on shares of eBay in a report on Sunday. Finally, Argus reaffirmed a “buy” rating and set a $36.00 price objective on shares of eBay in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.39.
The firm has a market capitalization of $34.77 billion and a P/E ratio of 18.93. The company has a 50-day moving average price of $27.94 and a 200-day moving average price of $24.98.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the firm posted $0.42 EPS. eBay’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts anticipate that eBay Inc. will post $1.89 earnings per share for the current year.
In related news, SVP Jae Hyun Lee sold 3,222 shares of eBay stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $31.53, for a total transaction of $101,589.66. Following the completion of the transaction, the senior vice president now owns 107,154 shares of the company’s stock, valued at $3,378,565.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Brian J. Doerger sold 14,474 shares of eBay stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $24.08, for a total transaction of $348,533.92. Following the transaction, the chief accounting officer now directly owns 41,846 shares of the company’s stock, valued at approximately $1,007,651.68. The disclosure for this sale can be found here.
A number of institutional investors have recently made changes to their positions in EBAY. Victory Capital Management Inc. increased its position in shares of eBay by 57.1% in the fourth quarter. Victory Capital Management Inc. now owns 42,735 shares of the e-commerce company’s stock worth $1,174,000 after buying an additional 15,537 shares in the last quarter. Calvert Investment Management Inc. increased its position in shares of eBay by 32.7% in the fourth quarter. Calvert Investment Management Inc. now owns 55,128 shares of the e-commerce company’s stock worth $1,515,000 after buying an additional 13,599 shares in the last quarter. Suntrust Banks Inc. purchased a new position in shares of eBay during the fourth quarter worth $1,983,000. Trexquant Investment LP increased its position in shares of eBay by 70.4% in the fourth quarter. Trexquant Investment LP now owns 101,400 shares of the e-commerce company’s stock worth $2,786,000 after buying an additional 41,900 shares in the last quarter. Finally, I.G. Investment Management LTD. increased its position in shares of eBay by 25.9% in the fourth quarter. I.G. Investment Management LTD. now owns 112,546 shares of the e-commerce company’s stock worth $3,093,000 after buying an additional 23,139 shares in the last quarter.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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