eBay (NASDAQ:EBAY) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of eBay (NASDAQ:EBAY) from a hold rating to a buy rating in a research note published on Thursday.

A number of other equities analysts have also recently commented on EBAY. Cantor Fitzgerald reiterated a neutral rating and set a $62.00 price target on shares of eBay in a report on Monday. Truist Financial upped their target price on eBay from $50.00 to $58.00 and gave the company a hold rating in a research report on Tuesday, August 6th. Piper Sandler reaffirmed an overweight rating and issued a $64.00 target price (up previously from $58.00) on shares of eBay in a research report on Thursday, August 1st. Morgan Stanley upped their target price on eBay from $61.00 to $64.00 and gave the company an overweight rating in a research report on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on eBay from $60.00 to $64.00 and gave the company a buy rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $58.05.

eBay Stock Performance

eBay stock traded up $0.50 during midday trading on Thursday, reaching $66.55. 161,995 shares of the company’s stock were exchanged, compared to its average volume of 5,490,300. eBay has a 52 week low of $37.17 and a 52 week high of $67.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $32.54 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 2.59 and a beta of 1.32. The stock’s 50-day simple moving average is $60.66 and its 200 day simple moving average is $55.40.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, analysts expect that eBay will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date was Friday, August 30th. eBay’s payout ratio is 20.97%.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the completion of the sale, the chief executive officer now directly owns 553,666 shares in the company, valued at $36,852,008.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,224 shares of company stock worth $2,600,666. Insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after acquiring an additional 4,524,934 shares during the period. Ameriprise Financial Inc. grew its holdings in eBay by 17.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after acquiring an additional 3,880,649 shares during the period. M&G Plc acquired a new stake in eBay during the 1st quarter worth about $97,557,000. Swedbank AB acquired a new stake in eBay during the 1st quarter worth about $73,777,000. Finally, Altshuler Shaham Ltd acquired a new stake in eBay during the 2nd quarter worth about $71,593,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

About eBay

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.