Canaccord Genuity Boosts eBay Inc. (EBAY) Price Target to $34.00
eBay Inc. (NASDAQ:EBAY) had its target price increased by Canaccord Genuity from $32.00 to $34.00 in a report published on Tuesday morning, MarketBeat reports. They currently have a hold rating on the e-commerce company’s stock.
A number of other research firms have also weighed in on EBAY. Aegis reaffirmed a buy rating and issued a $42.00 price objective on shares of eBay in a research note on Monday, July 17th. TheStreet lowered shares of eBay from a b- rating to a c+ rating in a research note on Friday, July 14th. Robert W. Baird reaffirmed an outperform rating and issued a $38.00 price objective on shares of eBay in a research note on Thursday, July 13th. BidaskClub raised shares of eBay from a buy rating to a strong-buy rating in a research note on Thursday, July 13th. Finally, Maxim Group raised their price objective on shares of eBay from $36.00 to $40.00 and gave the company a buy rating in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. eBay presently has a consensus rating of Hold and an average price target of $36.58.
Shares of eBay (NASDAQ EBAY) traded down 1.53% during midday trading on Tuesday, reaching $36.61. 22,222,085 shares of the company’s stock traded hands. eBay has a 52-week low of $27.28 and a 52-week high of $37.48. The firm has a market cap of $39.62 billion, a PE ratio of 5.27 and a beta of 1.36. The company has a 50 day moving average of $35.28 and a 200 day moving average of $33.60. eBay also was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 2,194 put options on the company. This is an increase of 231% compared to the typical daily volume of 663 put options.
eBay (NASDAQ:EBAY) last released its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.45. eBay had a net margin of 80.93% and a return on equity of 18.32%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period last year, the firm earned $0.43 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities analysts predict that eBay will post $2.01 EPS for the current fiscal year.
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eBay declared that its board has approved a stock repurchase program on Thursday, July 20th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $35.00, for a total transaction of $875,000.00. Following the transaction, the director now directly owns 286,562 shares of the company’s stock, valued at $10,029,670. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stephen Fisher sold 33,008 shares of eBay stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $32.35, for a total transaction of $1,067,808.80. Following the transaction, the senior vice president now directly owns 109,468 shares in the company, valued at $3,541,289.80. The disclosure for this sale can be found here. Insiders have sold 85,712 shares of company stock worth $2,877,612 over the last three months. Insiders own 6.78% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. UBS Asset Management Americas Inc. increased its position in eBay by 27.8% in the first quarter. UBS Asset Management Americas Inc. now owns 3,813,013 shares of the e-commerce company’s stock valued at $128,003,000 after buying an additional 829,988 shares during the period. USA Financial Portformulas Corp acquired a new position in eBay during the fourth quarter valued at approximately $5,303,000. Pinnacle Financial Partners Inc. acquired a new position in eBay during the first quarter valued at approximately $215,000. Menta Capital LLC acquired a new position in eBay during the first quarter valued at approximately $363,000. Finally, River & Mercantile Asset Management LLP acquired a new position in eBay during the fourth quarter valued at approximately $2,738,000. 85.02% of the stock is currently owned by hedge funds and other institutional investors.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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