eBay Inc. (NASDAQ:EBAY) released its earnings results on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.48, Bloomberg Earnings reports. The firm 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%. The company’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 earnings per share. eBay updated its Q4 guidance to $0.57-0.59 EPS.
Shares of eBay (EBAY) traded down 0.27% on Friday, hitting $36.80. 10,880,141 shares of the company traded hands. eBay has a 1-year low of $27.28 and a 1-year high of $39.28. The firm’s 50-day moving average is $38.07 and its 200 day moving average is $35.69. The firm has a market capitalization of $39.39 billion, a P/E ratio of 5.52 and a beta of 1.36.
In other news, SVP Harry A. Lawton III sold 34,832 shares of the company’s stock in a transaction on Monday, August 14th. The shares were 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 of the company’s stock, valued at approximately $2,907,030. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marie Oh Huber sold 72,417 shares of the company’s stock in a transaction on 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 directly owns 101,589 shares in the company, valued at $3,812,635.17. The disclosure for this sale can be found here. Insiders have sold a total of 201,655 shares of company stock worth $7,486,428 in the last 90 days. 6.78% of the stock is currently owned by company insiders.
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A number of research analysts have weighed in on EBAY shares. 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 research note on Wednesday, July 19th. Maxim Group upped their price target 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. Credit Suisse Group set a $44.00 price target on shares of eBay and gave the company a “buy” rating in a research note on Tuesday, July 11th. Aegis restated a “buy” rating and set a $42.00 price target on shares of eBay in a research note on Monday, July 17th. Finally, UBS AG set a $40.00 price target on shares of eBay and gave the company a “buy” rating in a research note on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $38.45.
eBay declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
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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