eBay (NASDAQ:EBAY) Price Target Cut to $61.00 by Analysts at Morgan Stanley

eBay (NASDAQ:EBAY) had its price target lowered by Morgan Stanley from $62.00 to $61.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the e-commerce company’s stock.

A number of other brokerages have also recently issued reports on EBAY. StockNews.com upgraded shares of eBay from a hold rating to a buy rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of eBay from $55.00 to $58.00 and gave the stock a buy rating in a report on Wednesday, April 10th. The Goldman Sachs Group began coverage on shares of eBay in a report on Wednesday, January 10th. They set a sell rating and a $38.00 price objective on the stock. Piper Sandler increased their price objective on shares of eBay from $50.00 to $52.00 and gave the stock an overweight rating in a report on Wednesday, February 28th. Finally, Truist Financial increased their price objective on shares of eBay from $47.00 to $48.00 and gave the stock a hold rating in a report on Thursday, February 29th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $51.35.

eBay Price Performance

Shares of eBay stock traded up $0.26 during mid-day trading on Thursday, reaching $49.65. 6,896,723 shares of the stock were exchanged, compared to its average volume of 5,298,042. The company has a market cap of $25.14 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 1.96 and a beta of 1.31. The company has a current ratio of 1.99, a quick ratio of 2.44 and a debt-to-equity ratio of 0.98. The firm has a 50-day simple moving average of $50.70 and a 200 day simple moving average of $44.77. eBay has a fifty-two week low of $37.17 and a fifty-two week high of $52.93.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the company posted $0.87 EPS. On average, sell-side analysts predict that eBay will post 3.75 EPS for the current fiscal year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.18%. eBay’s dividend payout ratio is 21.51%.

eBay announced that its Board of Directors has authorized a share repurchase plan on Tuesday, February 27th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at eBay

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the sale, the senior vice president now directly owns 31,888 shares in the company, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.21% of the stock is currently owned by corporate insiders.

Institutional Trading of eBay

Hedge funds have recently bought and sold shares of the stock. SteelPeak Wealth LLC acquired a new stake in eBay during the 4th quarter worth approximately $1,767,000. Allspring Global Investments Holdings LLC raised its holdings in eBay by 604.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 630,956 shares of the e-commerce company’s stock worth $27,522,000 after buying an additional 541,384 shares during the period. Commerzbank Aktiengesellschaft FI acquired a new stake in eBay during the 3rd quarter worth approximately $798,000. Sapient Capital LLC acquired a new stake in eBay during the 4th quarter worth approximately $955,000. Finally, DekaBank Deutsche Girozentrale raised its holdings in eBay by 66.8% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 244,543 shares of the e-commerce company’s stock worth $10,591,000 after buying an additional 97,906 shares during the period. 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.