eBay (NASDAQ:EBAY) Sets New 12-Month High on Analyst Upgrade

eBay Inc. (NASDAQ:EBAY)’s stock price hit a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $46.00 to $55.00. The Goldman Sachs Group currently has a sell rating on the stock. eBay traded as high as $67.80 and last traded at $67.47, with a volume of 863121 shares changing hands. The stock had previously closed at $66.88.

Several other equities research analysts have also recently weighed in on the company. Daiwa America upgraded eBay to a “hold” rating in a research note on Wednesday, August 14th. Wells Fargo & Company raised their price objective on eBay from $55.00 to $63.00 and gave the company an “equal weight” rating in a research note on Thursday, October 3rd. JPMorgan Chase & Co. assumed coverage on eBay in a research note on Tuesday, June 25th. They set a “neutral” rating and a $60.00 target price for the company. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price target on shares of eBay in a report on Monday, October 7th. Finally, Benchmark upped their price objective on shares of eBay from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $58.48.

Insider Buying and Selling

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total transaction of $374,400.00. Following the sale, the chief executive officer now owns 553,666 shares in the company, valued at $36,852,008.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,224 shares of company stock valued at $2,600,666 over the last ninety days. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently modified their holdings of EBAY. Van ECK Associates Corp lifted its position in shares of eBay by 25.0% during the 1st quarter. Van ECK Associates Corp now owns 85,688 shares of the e-commerce company’s stock valued at $4,523,000 after acquiring an additional 17,143 shares during the period. SteelPeak Wealth LLC raised its holdings in shares of eBay by 42.3% during the first quarter. SteelPeak Wealth LLC now owns 57,642 shares of the e-commerce company’s stock valued at $3,042,000 after purchasing an additional 17,140 shares during the period. Cetera Investment Advisers boosted its position in shares of eBay by 325.4% during the 1st quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock worth $4,178,000 after purchasing an additional 60,544 shares in the last quarter. PGGM Investments grew its stake in shares of eBay by 88.0% in the 2nd quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock valued at $3,283,000 after buying an additional 28,604 shares during the period. Finally, Freestone Capital Holdings LLC increased its position in eBay by 435.2% in the 1st quarter. Freestone Capital Holdings LLC now owns 36,431 shares of the e-commerce company’s stock valued at $1,923,000 after buying an additional 29,624 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors.

eBay Trading Up 0.2 %

The business has a 50 day moving average of $61.11 and a two-hundred day moving average of $55.67. The firm has a market capitalization of $33.63 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 2.59 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a return on equity of 29.69% and a net margin of 26.41%. Equities analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.61%. eBay’s payout ratio is 21.51%.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company’s marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.