eBay (NASDAQ:EBAY)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday. They currently have a $50.00 target price on the e-commerce company’s stock. Benchmark’s target price points to a potential upside of 56.15% from the company’s previous close.
The analysts wrote, “We expect Forrester to report Q3/18 total revenue of $83.5 million, which is 1% less than the FactSet consensus of $84.7 million. Our forecast represents year‐over‐year growth of 4% and a sequential decline of 13%. Revenue tends to be seasonally weak in the third quarter due to the impact of vacations. While we expect Research Services (RS) revenue, 64% of trailing twelve months’ (TTM) revenue, to grow 3% YOY, we expect Advisory/Event Services (AES) revenue, 36% of TTM revenue, to grow 5%.””
A number of other brokerages have also recently weighed in on EBAY. BidaskClub cut eBay from a “hold” rating to a “sell” rating in a research note on Tuesday, June 19th. Stifel Nicolaus reduced their price objective on eBay from $44.00 to $43.00 and set a “hold” rating for the company in a research note on Thursday, July 19th. Morgan Stanley reduced their price objective on eBay from $58.00 to $55.00 and set a “$34.11” rating for the company in a research note on Thursday, July 19th. Monness Crespi & Hardt reduced their price objective on eBay from $48.00 to $44.00 and set a “buy” rating for the company in a research note on Thursday, July 19th. Finally, Citigroup reiterated a “buy” rating and issued a $50.00 price objective on shares of eBay in a research note on Thursday, July 19th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. eBay presently has a consensus rating of “Hold” and a consensus target price of $46.25.
Shares of NASDAQ EBAY opened at $32.02 on Tuesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.37 and a quick ratio of 2.37. eBay has a twelve month low of $30.75 and a twelve month high of $46.99. The company has a market capitalization of $32.67 billion, a price-to-earnings ratio of 19.64, a PEG ratio of 1.89 and a beta of 1.20.
eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 18th. The e-commerce company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. eBay had a positive return on equity of 20.57% and a negative net margin of 10.05%. The company had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. As a group, sell-side analysts anticipate that eBay will post 1.84 earnings per share for the current year.
In other eBay news, SVP Wendy Elizabeth Jones sold 10,516 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $33.68, for a total value of $354,178.88. Following the completion of the transaction, the senior vice president now owns 21,620 shares in the company, valued at $728,161.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian J. Doerger sold 4,811 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $34.05, for a total value of $163,814.55. Following the completion of the transaction, the vice president now owns 34,644 shares of the company’s stock, valued at approximately $1,179,628.20. The disclosure for this sale can be found here. Insiders sold 138,158 shares of company stock valued at $4,718,578 in the last quarter. 6.22% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in eBay by 0.4% in the second quarter. BlackRock Inc. now owns 60,262,860 shares of the e-commerce company’s stock worth $2,185,132,000 after acquiring an additional 214,189 shares in the last quarter. Bank of New York Mellon Corp raised its position in eBay by 49.6% in the second quarter. Bank of New York Mellon Corp now owns 12,182,128 shares of the e-commerce company’s stock worth $441,723,000 after acquiring an additional 4,036,288 shares in the last quarter. First Trust Advisors LP raised its position in eBay by 14.1% in the second quarter. First Trust Advisors LP now owns 8,231,752 shares of the e-commerce company’s stock worth $298,483,000 after acquiring an additional 1,019,009 shares in the last quarter. Lindsell Train Ltd raised its position in eBay by 5.4% in the second quarter. Lindsell Train Ltd now owns 6,157,400 shares of the e-commerce company’s stock worth $223,267,000 after acquiring an additional 317,000 shares in the last quarter. Finally, Iridian Asset Management LLC CT raised its position in eBay by 11.7% in the second quarter. Iridian Asset Management LLC CT now owns 4,773,502 shares of the e-commerce company’s stock worth $173,087,000 after acquiring an additional 500,329 shares in the last quarter. Hedge funds and other institutional investors own 84.84% of the company’s stock.
eBay Company Profile
eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
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