eBay (NASDAQ:EBAY) Stock Gets Price Target Increase from Argus

eBay (NASDAQ:EBAY) had its target price increased by research analysts at Argus from $133.00 to $138.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the e-commerce company’s stock. Argus‘s price objective suggests a potential upside of 10.72% from the stock’s previous close.

A number of other research analysts also recently weighed in on the company. Piper Sandler restated an “overweight” rating and issued a $140.00 price target on shares of eBay in a research note on Thursday, October 29th. Robert W. Baird set a $135.00 price objective on eBay in a research note on Thursday, October 29th. JPMorgan Chase & Co. increased their price objective on eBay from $107.00 to $125.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Weiss Ratings downgraded eBay from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, October 28th. Finally, Wells Fargo & Company raised shares of eBay from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $91.00 to $106.00 in a research note on Thursday, October 29th. Seventeen equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $123.52.

eBay Stock Down 0.4%

EBAY stock traded down $0.51 during midday trading on Thursday, hitting $124.64. The company’s stock had a trading volume of 353,286 shares, compared to its average volume of 4,849,443. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.78 and a quick ratio of 0.78. eBay has a twelve month low of $78.03 and a twelve month high of $127.74. The company’s fifty day moving average price is $111.78 and its 200 day moving average price is $104.26. The stock has a market capitalization of $54.72 billion, a P/E ratio of 27.13, a PEG ratio of 2.83 and a beta of 1.30.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, October 28th. The e-commerce company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. eBay had a net margin of 16.84% and a return on equity of 49.20%. The firm had revenue of $3.21 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the firm posted $1.36 EPS. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities research analysts predict that eBay will post 4.75 EPS for the current year.

Insider Buying and Selling

In related news, SVP Jordan Sweetnam sold 1,014 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $101.39, for a total transaction of $102,809.46. Following the transaction, the senior vice president directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Jamie Iannone sold 11,110 shares of the stock in a transaction on Monday, October 5th. The shares were sold at an average price of $107.08, for a total value of $1,189,658.80. Following the completion of the sale, the chief executive officer owned 226,269 shares in the company, valued at approximately $24,228,884.52. This trade represents a 4.68% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 23,234 shares of company stock valued at $2,429,577. Insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On eBay

Several institutional investors and hedge funds have recently modified their holdings of EBAY. Keybank National Association OH raised its holdings in shares of eBay by 5.9% during the third quarter. Keybank National Association OH now owns 19,358 shares of the e-commerce company’s stock valued at $2,053,000 after purchasing an additional 1,078 shares during the period. 71 West Capital Partners grew its stake in shares of eBay by 7.4% in the 3rd quarter. 71 West Capital Partners now owns 5,059 shares of the e-commerce company’s stock valued at $537,000 after buying an additional 347 shares during the period. AlphaCore Capital LLC grew its stake 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 buying an additional 5,150 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of eBay by 3.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 44,041 shares of the e-commerce company’s stock valued at $4,664,000 after buying an additional 1,530 shares during the period. Finally, Hohimer Wealth Management LLC bought a new stake in eBay in the 3rd quarter valued at about $6,191,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

About eBay

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.