Citigroup Inc. Reaffirms Buy Rating for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY)‘s stock had its “buy” rating restated by equities researchers at Citigroup Inc. in a research note issued to investors on Friday. They currently have a $43.00 target price on the e-commerce company’s stock. Citigroup Inc.’s price objective would suggest a potential upside of 15.65% from the stock’s current price.
A number of other equities analysts have also weighed in on EBAY. BMO Capital Markets reiterated a “hold” rating and issued a $33.00 price target on shares of eBay in a research report on Monday, March 27th. Barclays PLC initiated coverage on shares of eBay in a research report on Tuesday, March 28th. They issued an “overweight” rating and a $41.00 price target for the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $30.00 price target on shares of eBay in a research report on Monday, April 10th. Robert W. Baird reiterated an “outperform” rating and issued a $38.00 price target on shares of eBay in a research report on Monday, April 10th. Finally, SunTrust Banks, Inc. reiterated a “hold” rating and issued a $35.00 price target on shares of eBay in a research report on Tuesday, April 11th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. eBay currently has a consensus rating of “Hold” and a consensus price target of $36.48.
eBay (NASDAQ:EBAY) traded down 1.53% on Friday, reaching $36.61. 22,162,489 shares of the company traded hands. The stock’s 50-day moving average is $35.28 and its 200-day moving average is $33.60. eBay has a 1-year low of $27.28 and a 1-year high of $37.48. The stock has a market capitalization of $39.62 billion, a price-to-earnings ratio of 5.27 and a beta of 1.36. eBay also was the target of unusually large options trading activity on Wednesday. Traders acquired 2,194 put options on the company. This represents an increase of 231% compared to the typical volume of 663 put options.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.31 billion. eBay had a net margin of 86.31% and a return on equity of 20.44%. The company’s revenue was up 4.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.43 earnings per share. Equities research analysts expect that eBay will post $2.01 EPS for the current year.
eBay declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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In other news, SVP Stephen Fisher sold 33,008 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $32.35, for a total value of $1,067,808.80. Following the sale, the senior vice president now directly owns 109,468 shares in the company, valued at approximately $3,541,289.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian J. Doerger sold 12,904 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were sold at an average price of $33.57, for a total transaction of $433,187.28. Following the completion of the sale, the vice president now owns 33,604 shares in the company, valued at $1,128,086.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,712 shares of company stock worth $2,877,612. 6.78% of the stock is owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in EBAY. BlackRock Inc. boosted its stake in eBay by 2,424.9% in the first quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after buying an additional 59,937,723 shares in the last quarter. Wellington Management Group LLP boosted its stake in eBay by 169.5% in the first quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after buying an additional 23,404,909 shares in the last quarter. Boston Partners boosted its stake in eBay by 1.9% in the first quarter. Boston Partners now owns 29,574,853 shares of the e-commerce company’s stock worth $992,828,000 after buying an additional 544,112 shares in the last quarter. Nordea Investment Management AB boosted its stake in eBay by 46.7% in the first quarter. Nordea Investment Management AB now owns 14,928,670 shares of the e-commerce company’s stock worth $501,155,000 after buying an additional 4,749,434 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in eBay by 4.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 13,700,034 shares of the e-commerce company’s stock worth $459,911,000 after buying an additional 604,985 shares in the last quarter. Institutional investors and hedge funds own 85.02% of the company’s stock.
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.
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