Macquarie set a $40.00 price target on eBay Inc. (NASDAQ:EBAY) in a research note issued to investors on Wednesday, October 18th. The firm currently has a neutral rating on the e-commerce company’s stock.
A number of other brokerages have also recently issued reports on EBAY. Benchmark Co. boosted their target price on shares of eBay from $39.00 to $40.00 and gave the company a buy rating in a report on Wednesday, July 19th. Susquehanna Bancshares Inc reissued a positive rating and set a $41.00 target price (up previously from $40.00) on shares of eBay in a report on Sunday, July 23rd. Piper Jaffray Companies set a $34.00 target price on shares of eBay and gave the company a hold rating in a report on Wednesday, October 11th. Morgan Stanley reissued an underweight rating and set a $28.00 target price on shares of eBay in a report on Saturday, July 22nd. Finally, BMO Capital Markets reaffirmed a market perform rating and issued a $40.00 price target on shares of eBay in a report on Wednesday, October 18th. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seventeen have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $38.45.
eBay (NASDAQ EBAY) traded up 0.38% during midday trading on Wednesday, hitting $37.04. 3,087,142 shares of the company traded hands. eBay has a 12-month low of $27.28 and a 12-month high of $39.28. The stock has a 50 day moving average of $38.07 and a 200 day moving average of $35.69. The stock has a market cap of $39.64 billion, a P/E ratio of 5.56 and a beta of 1.36.
eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The company had revenue of $2.41 billion for the quarter, compared to analysts’ expectations of $2.37 billion. eBay had a net margin of 80.45% and a return on equity of 15.69%. eBay’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.45 EPS. Equities research analysts predict that eBay will post $2.00 EPS for the current fiscal year.
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eBay declared that its board has approved a share repurchase program on Thursday, July 20th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the e-commerce company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
In other news, SVP Stephen Fisher sold 69,406 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $37.63, for a total value of $2,611,747.78. Following the completion of the sale, the senior vice president now owns 144,047 shares in the company, valued at approximately $5,420,488.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Marie Oh Huber sold 72,417 shares of the business’s stock in a transaction dated Monday, October 23rd. The shares were sold at an average price of $37.53, for a total transaction of $2,717,810.01. Following the completion of the sale, the senior vice president now owns 101,589 shares of the company’s stock, valued at approximately $3,812,635.17. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 201,655 shares of company stock valued at $7,486,428. 6.78% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. BlackRock Inc. raised its stake in shares of eBay by 2,424.9% during the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after acquiring an additional 59,937,723 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of eBay by 169.5% during the 1st quarter. Wellington Management Group LLP now owns 37,211,205 shares of the e-commerce company’s stock worth $1,249,180,000 after acquiring an additional 23,404,909 shares in the last quarter. Glenview Capital Management LLC raised its stake in shares of eBay by 442.0% during the 2nd quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after acquiring an additional 7,262,862 shares in the last quarter. Harding Loevner LP bought a new position in shares of eBay during the 2nd quarter worth approximately $128,878,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of eBay by 1,077.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,779,300 shares of the e-commerce company’s stock worth $131,973,000 after acquiring an additional 3,458,300 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.
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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