eBay Inc. (EBAY) Given a $40.00 Price Target at Macquarie
EBAY has been the subject of a number of other reports. Benchmark Co. raised their price target on shares of eBay from $39.00 to $40.00 and gave the stock a buy rating in a report on Wednesday, July 19th. Susquehanna Bancshares Inc restated a positive rating and issued a $41.00 price target (up from $40.00) on shares of eBay in a report on Sunday, July 23rd. Piper Jaffray Companies set a $34.00 price objective on shares of eBay and gave the company a hold rating in a research note on Wednesday, October 11th. Morgan Stanley reaffirmed an underweight rating and issued a $28.00 price objective on shares of eBay in a research note on Saturday, July 22nd. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $38.00 price objective on shares of eBay in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. eBay has a consensus rating of Hold and a consensus target price of $38.19.
eBay (EBAY) traded down 1.79% during midday trading on Wednesday, reaching $37.29. 29,010,158 shares of the company traded hands. The company has a 50 day moving average of $37.99 and a 200-day moving average of $35.58. eBay has a 12-month low of $27.28 and a 12-month high of $39.28. The stock has a market capitalization of $39.91 billion, a P/E ratio of 5.59 and a beta of 1.36.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $2.41 billion during the quarter, compared to analysts’ expectations of $2.37 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company posted $0.45 earnings per share. Equities analysts anticipate that eBay will post $2.00 EPS for the current fiscal year.
eBay announced that its board has approved a share buyback plan on Thursday, July 20th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.
In other eBay news, SVP Stephen Fisher sold 11,956 shares of the business’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $36.24, for a total transaction of $433,285.44. Following the transaction, the senior vice president now directly owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $37.51, for a total transaction of $937,750.00. Following the transaction, the director now directly owns 262,119 shares in the company, valued at $9,832,083.69. The disclosure for this sale can be found here. Insiders have sold a total of 95,238 shares of company stock valued at $3,439,297 over the last quarter. 6.78% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Trust Co. of Vermont increased its position in eBay by 0.3% during the 2nd quarter. Trust Co. of Vermont now owns 13,837 shares of the e-commerce company’s stock valued at $483,000 after purchasing an additional 40 shares during the period. Westside Investment Management Inc. increased its position in eBay by 1.7% during the 2nd quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 60 shares during the period. Usca Ria LLC increased its position in eBay by 1.3% during the 2nd quarter. Usca Ria LLC now owns 7,926 shares of the e-commerce company’s stock valued at $277,000 after purchasing an additional 100 shares during the period. CENTRAL TRUST Co increased its position in eBay by 1.2% during the 2nd quarter. CENTRAL TRUST Co now owns 9,653 shares of the e-commerce company’s stock valued at $337,000 after purchasing an additional 110 shares during the period. Finally, Boston Private Wealth LLC increased its position in eBay by 0.7% during the 2nd quarter. Boston Private Wealth LLC now owns 16,453 shares of the e-commerce company’s stock valued at $575,000 after purchasing an additional 111 shares during the period. 84.85% of the stock is currently owned by institutional investors and hedge funds.
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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