eBay (NASDAQ:EBAY) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of eBay (NASDAQ:EBAY) in a report released on Wednesday morning, Marketbeat Ratings reports. The firm currently has a $72.00 target price on the e-commerce company’s stock.

Several other brokerages also recently weighed in on EBAY. Wells Fargo & Company increased their price target on shares of eBay from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of eBay in a research note on Monday, October 7th. Truist Financial raised their price objective on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Robert W. Baird raised their price objective on shares of eBay from $62.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, October 11th. Finally, Susquehanna raised their price objective on shares of eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.19.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $63.67 on Wednesday. eBay has a twelve month low of $37.17 and a twelve month high of $67.80. The company’s 50 day moving average is $62.40 and its 200 day moving average is $56.28. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The company has a market cap of $31.96 billion, a PE ratio of 12.68, a price-to-earnings-growth ratio of 2.59 and a beta of 1.32.

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

eBay Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.70%. eBay’s payout ratio is currently 21.51%.

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the transaction, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other eBay news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at $36,963,542.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,391 shares of company stock worth $2,678,424. Corporate insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

Hedge funds and other institutional investors have recently modified their holdings of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of eBay in the 2nd quarter worth $26,000. Tortoise Investment Management LLC increased its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of eBay during the 1st quarter worth about $29,000. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the 2nd quarter worth about $29,000. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of eBay during the 1st quarter worth about $30,000. 87.48% of the stock is owned by institutional investors and hedge funds.

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.