eBay (EBAY) Trading -2.4% Higher Following Analyst Upgrade

eBay Inc. (NASDAQ:EBAY)’s share price traded up 2.4% during trading on Friday after Aegis raised their price target on the stock from $45.00 to $52.00. Aegis currently has a buy rating on the stock. eBay traded as high as $46.99 and last traded at $45.08. 9,131,126 shares traded hands during mid-day trading, a decline of 16% from the average session volume of 10,841,443 shares. The stock had previously closed at $46.19.

Several other equities research analysts also recently weighed in on the stock. Royal Bank of Canada raised shares of eBay from a “sector perform” rating to an “outperform” rating and set a $51.00 target price on the stock in a research note on Thursday. Stifel Nicolaus upped their target price on shares of eBay from $37.00 to $41.00 and gave the stock a “hold” rating in a research note on Thursday. UBS Group reaffirmed a “buy” rating and set a $48.00 target price (up from $44.00) on shares of eBay in a research note on Thursday. Credit Suisse Group reaffirmed an “in-line” rating and set a $51.00 target price (up from $46.00) on shares of eBay in a research note on Thursday. Finally, Bank of America upped their target price on shares of eBay from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $42.87.

In other news, VP Brian J. Doerger sold 6,660 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $35.99, for a total value of $239,693.40. Following the completion of the sale, the vice president now owns 16,732 shares in the company, valued at approximately $602,184.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian J. Doerger sold 4,359 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $35.75, for a total transaction of $155,834.25. Following the completion of the sale, the vice president now owns 23,392 shares of the company’s stock, valued at approximately $836,264. The disclosure for this sale can be found here. Insiders sold a total of 42,419 shares of company stock valued at $1,512,740 in the last 90 days. Company insiders own 6.78% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in EBAY. Glenview Capital Management LLC increased its holdings in shares of eBay by 442.0% in the 2nd quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock valued at $310,995,000 after purchasing an additional 7,262,862 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of eBay by 1,077.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 3,779,300 shares of the e-commerce company’s stock valued at $131,973,000 after acquiring an additional 3,458,300 shares during the period. Janus Henderson Group PLC boosted its position in shares of eBay by 134.5% in the second quarter. Janus Henderson Group PLC now owns 5,951,860 shares of the e-commerce company’s stock valued at $207,826,000 after acquiring an additional 3,414,163 shares during the period. Independent Franchise Partners LLP boosted its position in shares of eBay by 17.6% in the third quarter. Independent Franchise Partners LLP now owns 22,728,844 shares of the e-commerce company’s stock valued at $874,151,000 after acquiring an additional 3,406,261 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of eBay by 20.4% in the third quarter. Nordea Investment Management AB now owns 18,407,787 shares of the e-commerce company’s stock valued at $707,963,000 after acquiring an additional 3,118,453 shares during the period. Institutional investors own 85.95% of the company’s stock.

The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.82. The firm has a market cap of $47,070.00, a PE ratio of -42.48, a price-to-earnings-growth ratio of 2.82 and a beta of 1.31.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data 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 positive return on equity of 15.57% and a negative net margin of 10.62%. The company had revenue of $2.61 billion during the quarter, compared to analysts’ expectations of $2.61 billion. During the same period in the prior year, the business earned $0.54 earnings per share. eBay’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that eBay Inc. will post 1.8 EPS for the current fiscal year.

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

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About eBay

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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