eBay Inc. (EBAY) Price Target Raised to $38.00 at Axiom Securities
eBay Inc. (NASDAQ:EBAY) had its target price hoisted by Axiom Securities from $34.00 to $38.00 in a research report released on Tuesday morning. They currently have a buy rating on the e-commerce company’s stock.
Several other research analysts also recently weighed in on EBAY. Cantor Fitzgerald reaffirmed a hold rating on shares of eBay in a report on Saturday, July 9th. Deutsche Bank AG reaffirmed a hold rating on shares of eBay in a report on Sunday, July 10th. Jefferies Group reaffirmed a hold rating and issued a $32.00 target price on shares of eBay in a report on Monday, July 18th. Bank of America Corp. reaffirmed a buy rating on shares of eBay in a report on Wednesday, May 25th. Finally, Robert W. Baird upped their target price on shares of eBay from $30.00 to $35.00 and gave the stock an outperform rating in a report on Thursday, July 21st. Two equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $32.56.
eBay (NASDAQ:EBAY) opened at 31.77 on Tuesday. eBay has a 12-month low of $21.52 and a 12-month high of $32.81. The stock has a market cap of $35.87 billion, a P/E ratio of 19.53 and a beta of 1.13. The stock has a 50 day moving average price of $31.38 and a 200 day moving average price of $26.18.
eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. The company earned $2.23 billion during the quarter, compared to the consensus estimate of $2.17 billion. eBay had a net margin of 22.00% and a return on equity of 29.12%. eBay’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. On average, analysts forecast that eBay will post $1.89 earnings per share for the current fiscal year.
In other eBay news, SVP Raymond J. Pittman sold 39,030 shares of the firm’s stock in a transaction on Wednesday, August 31st. The shares were sold at an average price of $32.14, for a total value of $1,254,424.20. Following the completion of the transaction, the senior vice president now owns 32,738 shares of the company’s stock, valued at $1,052,199.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert Holmes Swan sold 50,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $30.65, for a total transaction of $1,532,500.00. Following the completion of the transaction, the director now directly owns 425,288 shares of the company’s stock, valued at approximately $13,035,077.20. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. Norges Bank bought a new position in eBay during the fourth quarter worth about $405,358,000. FMR LLC boosted its position in eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock worth $501,033,000 after buying an additional 13,838,953 shares in the last quarter. Wellington Management Group LLP boosted its position in eBay by 344.6% in the first quarter. Wellington Management Group LLP now owns 11,298,332 shares of the e-commerce company’s stock worth $269,578,000 after buying an additional 8,756,950 shares in the last quarter. Lazard Asset Management LLC boosted its position in eBay by 78.9% in the first quarter. Lazard Asset Management LLC now owns 16,144,360 shares of the e-commerce company’s stock worth $385,203,000 after buying an additional 7,117,937 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its position in eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock worth $986,781,000 after buying an additional 5,833,160 shares in the last quarter. 82.08% of the stock is 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 helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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