eBay (NASDAQ:EBAY) Price Target Cut to $59.00 by Analysts at Wells Fargo & Company

eBay (NASDAQ:EBAY) had its price objective lowered by research analysts at Wells Fargo & Company from $62.00 to $59.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price target would indicate a potential downside of 9.47% from the company’s previous close.

Several other equities analysts have also recently issued reports on EBAY. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Tuesday, November 5th. JPMorgan Chase & Co. decreased their price objective on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group boosted their price target on shares of eBay from $46.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, October 15th. Finally, Piper Sandler lifted their target price on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $62.83.

eBay Trading Down 0.8 %

Shares of eBay stock traded down $0.55 on Tuesday, reaching $65.17. The company had a trading volume of 862,228 shares, compared to its average volume of 6,443,300. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $31.22 billion, a PE ratio of 16.37, a PEG ratio of 2.22 and a beta of 1.35. eBay has a 52-week low of $40.16 and a 52-week high of $71.52. The firm’s 50 day moving average price is $63.34 and its two-hundred day moving average price is $60.75.

Insider Activity at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the sale, the chief executive officer now directly owns 542,248 shares of the company’s stock, valued at $33,825,430.24. The trade was a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,283 shares of company stock worth $1,715,462 in the last quarter. 0.38% of the stock is owned by company insiders.

Institutional Trading of eBay

Institutional investors have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in eBay by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after buying an additional 153 shares during the last quarter. Capital Investment Advisors LLC increased its position in eBay by 4.1% in the 4th quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock valued at $262,000 after acquiring an additional 167 shares in the last quarter. Optas LLC raised its stake in shares of eBay by 0.5% in the third quarter. Optas LLC now owns 34,082 shares of the e-commerce company’s stock worth $2,219,000 after acquiring an additional 171 shares during the last quarter. Kathmere Capital Management LLC lifted its holdings in eBay by 1.2% during the 4th quarter. Kathmere Capital Management LLC now owns 14,250 shares of the e-commerce company’s stock worth $883,000 after buying an additional 173 shares in the last quarter. Finally, Davis Investment Partners LLC grew its position in shares of eBay by 0.8% during the 3rd quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock worth $1,531,000 after buying an additional 180 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Company Profile

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.