Wells Fargo & Company Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price objective hoisted by investment analysts at Wells Fargo & Company from $61.00 to $64.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price target points to a potential downside of 1.14% from the company’s current price.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird dropped their price target on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Barclays set a $72.00 target price on eBay and gave the company an “overweight” rating in a research note on Thursday. Citigroup lifted their target price on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Wedbush began coverage on eBay in a research note on Monday, December 9th. They set a “neutral” rating and a $70.00 target price on the stock. Finally, Mizuho lifted their target price on eBay from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $65.33.

eBay Trading Up 2.0 %

Shares of EBAY opened at $64.74 on Thursday. The business’s 50-day moving average price is $66.22 and its 200 day moving average price is $63.73. The stock has a market capitalization of $31.01 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 1.35. eBay has a 1-year low of $47.06 and a 1-year high of $71.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the completion of the sale, the chief executive officer now directly owns 530,998 shares in the company, valued at approximately $35,709,615.50. The trade was a 1.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This trade represents a 7.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,149 shares of company stock worth $1,746,065. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in EBAY. Golden State Wealth Management LLC bought a new position in eBay in the 4th quarter worth approximately $27,000. Orion Capital Management LLC bought a new position in eBay in the 4th quarter worth approximately $27,000. Pinney & Scofield Inc. bought a new position in eBay in the 4th quarter worth approximately $31,000. Itau Unibanco Holding S.A. bought a new position in eBay in the 4th quarter worth approximately $33,000. Finally, Quarry LP bought a new position in eBay in the 3rd quarter worth approximately $36,000. 87.48% of the stock is owned by institutional investors.

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.