eBay (EBAY) Reaches New 1-Year High Following Analyst Upgrade

eBay Inc. (NASDAQ:EBAY) shares hit a new 52-week high during trading on Thursday after Bank of America raised their price target on the stock from $44.00 to $52.00. Bank of America currently has a buy rating on the stock. eBay traded as high as $46.30 and last traded at $46.37, with a volume of 21438947 shares traded. The stock had previously closed at $40.58.

A number of other brokerages have also commented on EBAY. Credit Suisse Group upped their target price on eBay from $44.00 to $46.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. UBS Group set a $44.00 target price on eBay and gave the company a “buy” rating in a research note on Thursday, January 11th. Goldman Sachs Group set a $40.00 target price on eBay and gave the company a “buy” rating in a research note on Thursday, October 19th. Royal Bank of Canada upgraded eBay from a “sector perform” rating to an “outperform” rating and set a $51.00 target price for the company in a research note on Thursday. Finally, Deutsche Bank set a $47.00 target price on eBay and gave the company a “buy” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.03.

In related news, VP Brian J. Doerger sold 4,359 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $35.75, for a total value of $155,834.25. Following the transaction, the vice president now owns 23,392 shares in the company, valued at $836,264. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Raymond J. Pittman sold 31,400 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $35.58, for a total value of $1,117,212.00. Following the completion of the transaction, the senior vice president now owns 74,334 shares in the company, valued at approximately $2,644,803.72. The disclosure for this sale can be found here. Insiders have sold 42,419 shares of company stock worth $1,512,740 in the last 90 days. Company insiders own 6.78% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. BB&T Investment Services Inc. bought a new position in eBay in the second quarter valued at about $119,000. Valeo Financial Advisors LLC acquired a new position in eBay in the third quarter valued at about $122,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in eBay in the second quarter valued at about $123,000. Westside Investment Management Inc. lifted its stake in eBay by 1.7% in the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after buying an additional 60 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in eBay in the third quarter valued at about $139,000. Institutional investors and hedge funds own 85.95% of the company’s stock.

The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.46 and a current ratio of 2.46. The company has a market cap of $48,520.00, a P/E ratio of 6.86, a price-to-earnings-growth ratio of 2.81 and a beta of 1.34.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, January 31st. The e-commerce company reported $0.59 earnings per share for the quarter, meeting the consensus estimate of $0.59. eBay had a return on equity of 15.69% and a net margin of 80.45%. The firm had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. equities research analysts expect that eBay Inc. will post 1.65 EPS for the current year.

eBay declared that its board has authorized a stock repurchase plan on Wednesday, January 31st that authorizes the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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eBay Company Profile

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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