eBay (NASDAQ:EBAY) Price Target Raised to $80.00 at Citigroup

eBay (NASDAQ:EBAY) had its price target upped by Citigroup from $75.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the e-commerce company’s stock. Citigroup’s target price indicates a potential upside of 14.77% from the company’s previous close.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of eBay from $45.00 to $54.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Bank of America cut their target price on eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Jefferies Financial Group lowered eBay from a “hold” rating to an “underperform” rating and decreased their price target for the company from $60.00 to $52.00 in a research note on Tuesday, December 10th. Robert W. Baird reduced their price objective on shares of eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Piper Sandler boosted their price objective on shares of eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $63.13.

eBay Price Performance

NASDAQ EBAY traded up $0.45 during trading hours on Friday, hitting $69.71. 912,144 shares of the company’s stock traded hands, compared to its average volume of 4,352,499. eBay has a 52-week low of $42.14 and a 52-week high of $71.52. The company has a market capitalization of $33.39 billion, a PE ratio of 17.57, a PEG ratio of 2.15 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s 50-day moving average is $65.18 and its 200-day moving average is $62.73.

Insider Activity at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the sale, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at approximately $33,575,066.07. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the sale, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at $4,225,644.40. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,149 shares of company stock valued at $1,746,065 over the last three months. 0.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in EBAY. Wealth Group Ltd. purchased a new position in shares of eBay in the third quarter valued at $543,000. Exchange Traded Concepts LLC increased its position in shares of eBay by 3,496.6% in the third quarter. Exchange Traded Concepts LLC now owns 4,244 shares of the e-commerce company’s stock valued at $276,000 after buying an additional 4,126 shares in the last quarter. Creative Planning boosted its stake in shares of eBay by 5.4% during the third quarter. Creative Planning now owns 65,816 shares of the e-commerce company’s stock valued at $4,285,000 after acquiring an additional 3,401 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of eBay by 33.1% during the third quarter. Asset Dedication LLC now owns 4,266 shares of the e-commerce company’s stock valued at $278,000 after acquiring an additional 1,062 shares during the last quarter. Finally, Probity Advisors Inc. acquired a new stake in shares of eBay during the third quarter valued at $223,000. Hedge funds and other institutional investors own 87.48% of the company’s stock.

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.