eBay (NASDAQ:EBAY) Reaches New 12-Month High on Analyst Upgrade

eBay Inc. (NASDAQ:EBAYGet Free Report) shares reached a new 52-week high on Tuesday after Wells Fargo & Company raised their price target on the stock from $47.00 to $57.00. Wells Fargo & Company currently has an equal weight rating on the stock. eBay traded as high as $55.35 and last traded at $54.93, with a volume of 974722 shares trading hands. The stock had previously closed at $54.01.

Several other equities research analysts also recently commented on the stock. Jefferies Financial Group upped their price objective on shares of eBay from $50.00 to $55.00 and gave the company a “hold” rating in a report on Thursday, May 30th. Barclays raised their price objective on shares of eBay from $61.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Morgan Stanley lowered their target price on shares of eBay from $62.00 to $61.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Robert W. Baird raised their price target on eBay from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, June 17th. Finally, Truist Financial increased their price objective on eBay from $48.00 to $50.00 and gave the stock a “hold” rating in a report on Monday, May 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.71.

Check Out Our Latest Research Report on EBAY

Insider Transactions at eBay

In related news, SVP Julie A. Loeger sold 7,419 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $54.20, for a total value of $402,109.80. Following the completion of the sale, the senior vice president now owns 70,797 shares in the company, valued at approximately $3,837,197.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Julie A. Loeger sold 7,419 shares of eBay stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.20, for a total value of $402,109.80. Following the transaction, the senior vice president now owns 70,797 shares in the company, valued at approximately $3,837,197.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Rebecca Spencer sold 2,083 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $53.62, for a total transaction of $111,690.46. Following the sale, the chief accounting officer now owns 4,109 shares of the company’s stock, valued at $220,324.58. The disclosure for this sale can be found here. In the last three months, insiders sold 59,558 shares of company stock worth $3,001,254. 0.38% of the stock is currently owned by corporate insiders.

Institutional Trading of eBay

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. American Trust purchased a new position in shares of eBay in the first quarter worth $793,000. Cetera Advisors LLC grew its holdings in eBay by 106.7% in the 1st quarter. Cetera Advisors LLC now owns 13,777 shares of the e-commerce company’s stock worth $727,000 after acquiring an additional 7,112 shares during the last quarter. Cetera Investment Advisers grew its holdings in eBay by 325.4% in the 1st quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock worth $4,178,000 after acquiring an additional 60,544 shares during the last quarter. PGGM Investments purchased a new position in shares of eBay in the first quarter valued at about $1,716,000. Finally, Swedbank AB bought a new position in shares of eBay during the first quarter valued at about $73,777,000. Institutional investors own 87.48% of the company’s stock.

eBay Trading Up 1.7 %

The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $27.57 billion, a PE ratio of 10.76, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32. The stock’s fifty day moving average price is $52.18 and its two-hundred day moving average price is $48.00.

eBay (NASDAQ:EBAYGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.20 by $0.05. eBay had a return on equity of 29.11% and a net margin of 25.97%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the business posted $0.87 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that eBay Inc. will post 3.72 earnings per share for the current year.

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $1.08 annualized dividend and a dividend yield of 1.97%. eBay’s payout ratio is 21.51%.

eBay announced that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

eBay Company Profile

(Get Free Report)

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.

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