Aegis reiterated their buy rating on shares of eBay Inc. (NASDAQ:EBAY) in a research report sent to investors on Tuesday morning. Aegis currently has a $44.00 price objective on the e-commerce company’s stock, up from their prior price objective of $42.00.
Several other research firms have also recently weighed in on EBAY. Benchmark Co. boosted their price objective on eBay from $39.00 to $40.00 and gave the stock a buy rating in a research report on Wednesday, July 19th. Susquehanna Bancshares Inc reissued a positive rating and set a $41.00 price objective (up previously from $40.00) on shares of eBay in a research report on Sunday, July 23rd. Morgan Stanley reissued an underweight rating and set a $28.00 price objective on shares of eBay in a research report on Saturday, July 22nd. Robert W. Baird reissued an outperform rating and set a $38.00 price objective on shares of eBay in a research report on Thursday, July 13th. Finally, Credit Suisse Group set a $44.00 price objective on eBay and gave the stock a buy rating in a research report on Tuesday, July 11th. Three research analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $37.30.
Shares of eBay (NASDAQ:EBAY) opened at 38.71 on Tuesday. The company’s 50 day moving average price is $36.16 and its 200 day moving average price is $34.85. eBay has a one year low of $27.28 and a one year high of $38.87. The stock has a market capitalization of $41.43 billion, a P/E ratio of 5.81 and a beta of 1.34. eBay also saw unusually large options trading on Monday. Investors acquired 4,033 call options on the company. This is an increase of approximately 484% compared to the average daily volume of 690 call options.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous 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 expect that eBay will post $2.00 earnings per share for the current year.
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eBay announced that its Board of Directors has approved a stock buyback 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 buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
In related news, VP Brian J. Doerger sold 10,450 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total transaction of $382,052.00. Following the sale, the vice president now owns 24,001 shares of the company’s stock, valued at approximately $877,476.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Harry A. Lawton III sold 34,832 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $35.00, for a total value of $1,219,120.00. Following the sale, the senior vice president now directly owns 83,058 shares in the company, valued at approximately $2,907,030. The disclosure for this sale can be found here. Insiders have sold a total of 95,238 shares of company stock worth $3,439,297 in the last ninety days. 6.78% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of EBAY. Captrust Financial Advisors bought a new position in eBay during the 2nd quarter worth about $108,000. BB&T Investment Services Inc. bought a new position in eBay during the 2nd quarter worth about $119,000. Westside Investment Management Inc. increased its holdings in eBay by 284.0% during the 1st quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock worth $121,000 after purchasing an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in eBay during the 2nd quarter worth about $123,000. Finally, FNY Partners Fund LP increased its holdings in eBay by 660.0% during the 1st quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after purchasing an additional 3,300 shares in the last quarter. 84.83% of the stock is currently 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 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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