Morgan Stanley Lowers eBay (NASDAQ:EBAY) Price Target to $61.00

eBay (NASDAQ:EBAY) had its target price decreased by equities research analysts at Morgan Stanley from $62.00 to $61.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s price target indicates a potential upside of 22.86% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Mizuho raised their price target on shares of eBay from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday. TD Cowen boosted their price target on eBay from $42.00 to $45.00 and gave the company a “hold” rating in a report on Thursday. The Goldman Sachs Group initiated coverage on eBay in a report on Wednesday, January 10th. They issued a “sell” rating and a $38.00 price objective for the company. UBS Group boosted their target price on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Finally, Susquehanna upped their price objective on shares of eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, eBay has a consensus rating of “Hold” and a consensus target price of $51.35.

eBay Trading Up 0.5 %

Shares of EBAY traded up $0.26 during trading hours on Thursday, hitting $49.65. The company had a trading volume of 6,896,723 shares, compared to its average volume of 5,298,042. eBay has a 52-week low of $37.17 and a 52-week high of $52.93. The company has a quick ratio of 2.44, a current ratio of 1.99 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $50.70 and its 200 day moving average price is $44.77. The firm has a market cap of $25.14 billion, a P/E ratio of 9.89, a P/E/G ratio of 1.96 and a beta of 1.31.

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

eBay announced that its board has approved a stock repurchase program on Tuesday, February 27th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction dated 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 owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.21% of the stock is owned by insiders.

Institutional Investors Weigh In On eBay

A number of hedge funds have recently added to or reduced their stakes in the stock. Tempus Wealth Planning LLC lifted its stake in shares of eBay by 3.1% in the 1st quarter. Tempus Wealth Planning LLC now owns 8,539 shares of the e-commerce company’s stock worth $451,000 after purchasing an additional 254 shares during the period. GHE LLC raised its position in eBay by 1.5% in the fourth quarter. GHE LLC now owns 17,480 shares of the e-commerce company’s stock worth $762,000 after acquiring an additional 260 shares during the period. Savant Capital LLC raised its position in eBay by 2.3% in the fourth quarter. Savant Capital LLC now owns 11,411 shares of the e-commerce company’s stock worth $498,000 after acquiring an additional 262 shares during the period. Affinity Investment Advisors LLC boosted its stake in shares of eBay by 3.0% during the 4th quarter. Affinity Investment Advisors LLC now owns 9,494 shares of the e-commerce company’s stock worth $414,000 after acquiring an additional 275 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of eBay by 10.5% during the 4th quarter. Quent Capital LLC now owns 2,971 shares of the e-commerce company’s stock valued at $130,000 after acquiring an additional 282 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Company Profile

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.