eBay (NASDAQ:EBAY) Sets New 1-Year High – Here’s Why

eBay Inc. (NASDAQ:EBAY)’s share price hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $125.40 and last traded at $124.89, with a volume of 585,343 shares. The stock had previously closed at $118.62.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Weiss Ratings cut shares of eBay from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Wednesday, October 28th. Jefferies Financial Group reduced their price target on eBay from $80.00 to $75.00 and set an “underperform” rating on the stock in a research report on Monday, September 21st. Morgan Stanley increased their target price on shares of eBay from $132.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target on shares of eBay in a report on Thursday, October 29th. Finally, Mizuho set a $120.00 price target on eBay in a report on Thursday, October 29th. Seventeen investment analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $123.36.

eBay Stock Up 6.1%

The firm’s 50 day simple moving average is $111.39 and its two-hundred day simple moving average is $104.11. The firm has a market cap of $55.24 billion, a price-to-earnings ratio of 27.47, a PEG ratio of 2.89 and a beta of 1.30. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.16.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The business had revenue of $3.21 billion during the quarter, compared to analyst estimates of $3.12 billion. eBay had a return on equity of 49.20% and a net margin of 16.84%. eBay’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. On average, equities analysts forecast that eBay Inc. will post 4.75 EPS for the current year.

eBay Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Friday, December 4th. eBay’s dividend payout ratio is currently 27.07%.

Insider Transactions at eBay

In other eBay news, SVP Jordan Sweetnam sold 1,014 shares of eBay stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $101.39, for a total value of $102,809.46. Following the completion of the sale, the senior vice president owned 35,546 shares of the company’s stock, valued at approximately $3,604,008.94. The trade was a 2.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $107.08, for a total value of $1,189,658.80. Following the completion of the transaction, the chief executive officer directly owned 226,269 shares in the company, valued at $24,228,884.52. The trade was a 4.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 23,234 shares of company stock worth $2,429,577. Insiders own 0.67% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. AlphaCore Capital LLC raised its position in shares of eBay by 98.9% in the 3rd quarter. AlphaCore Capital LLC now owns 10,358 shares of the e-commerce company’s stock valued at $1,098,000 after purchasing an additional 5,150 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of eBay by 3.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 44,041 shares of the e-commerce company’s stock worth $4,664,000 after buying an additional 1,530 shares in the last quarter. Hohimer Wealth Management LLC acquired a new position in eBay during the third quarter worth $6,191,000. M Holdings Securities Inc. purchased a new stake in eBay in the 3rd quarter valued at $1,802,000. Finally, Brighton Jones LLC increased its stake in shares of eBay by 1.9% in the 3rd quarter. Brighton Jones LLC now owns 7,458 shares of the e-commerce company’s stock worth $791,000 after acquiring an additional 142 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

eBay Company Profile

eBay Inc operates a global online marketplace that connects buyers and sellers. Through its platform, individuals, small businesses and larger retailers can list and purchase new, used and refurbished merchandise across categories such as electronics, apparel, collectibles, automotive parts and accessories, home goods and industrial products. Transactions may take place through auctions or fixed-price listings, with payments, shipping and other seller and buyer services supporting the marketplace experience.

Founded in 1995 as AuctionWeb by Pierre Omidyar, eBay has grown from an online auction site into a broad e-commerce platform.