Credit Suisse Group Increases eBay (NASDAQ:EBAY) Price Target to $60.00

eBay (NASDAQ:EBAYGet Rating) had its price target upped by investment analysts at Credit Suisse Group from $59.00 to $60.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the e-commerce company’s stock. Credit Suisse Group’s price target would indicate a potential upside of 26.90% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. Piper Sandler cut their price objective on shares of eBay from $68.00 to $63.00 in a report on Thursday, May 5th. Needham & Company LLC initiated coverage on shares of eBay in a report on Monday, August 1st. They set a “hold” rating on the stock. Stifel Nicolaus cut their price objective on shares of eBay from $62.00 to $60.00 in a report on Friday, July 15th. JPMorgan Chase & Co. cut their price objective on shares of eBay from $54.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Finally, The Goldman Sachs Group downgraded shares of eBay from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $52.00 to $42.00 in a report on Thursday, June 9th. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, eBay presently has an average rating of “Hold” and a consensus target price of $60.89.

eBay Stock Performance

NASDAQ:EBAY opened at $47.28 on Thursday. The company has a fifty day moving average of $45.11 and a 200-day moving average of $51.11. The firm has a market capitalization of $26.47 billion, a P/E ratio of 112.57, a P/E/G ratio of 2.13 and a beta of 1.22. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.93. eBay has a twelve month low of $40.52 and a twelve month high of $81.19.

eBay (NASDAQ:EBAYGet Rating) last posted its quarterly earnings results on Wednesday, August 3rd. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.09. eBay had a net margin of 3.60% and a return on equity of 21.77%. During the same period in the prior year, the company posted $0.82 earnings per share. As a group, sell-side analysts anticipate that eBay will post 3.23 EPS for the current year.

Insider Activity at eBay

In other news, CAO Brian J. Doerger sold 3,633 shares of the company’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $47.95, for a total transaction of $174,202.35. Following the sale, the chief accounting officer now directly owns 14,929 shares in the company, valued at $715,845.55. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CAO Brian J. Doerger sold 7,942 shares of the company’s stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $45.16, for a total transaction of $358,660.72. Following the sale, the chief accounting officer now directly owns 18,562 shares in the company, valued at $838,259.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Brian J. Doerger sold 3,633 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $47.95, for a total value of $174,202.35. Following the sale, the chief accounting officer now owns 14,929 shares in the company, valued at $715,845.55. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EBAY. Norges Bank purchased a new position in shares of eBay during the fourth quarter worth about $240,751,000. Nordea Investment Management AB grew its holdings in shares of eBay by 34.3% during the first quarter. Nordea Investment Management AB now owns 13,435,649 shares of the e-commerce company’s stock worth $783,433,000 after purchasing an additional 3,428,575 shares in the last quarter. Ninety One UK Ltd grew its holdings in shares of eBay by 105.4% during the first quarter. Ninety One UK Ltd now owns 5,274,224 shares of the e-commerce company’s stock worth $302,002,000 after purchasing an additional 2,706,942 shares in the last quarter. Maj Invest Holding A S grew its holdings in shares of eBay by 44.9% during the first quarter. Maj Invest Holding A S now owns 6,926,387 shares of the e-commerce company’s stock worth $396,604,000 after purchasing an additional 2,147,372 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of eBay by 43.1% during the fourth quarter. Nuveen Asset Management LLC now owns 5,730,780 shares of the e-commerce company’s stock worth $381,096,000 after purchasing an additional 1,726,110 shares in the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.

eBay Company Profile

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eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.

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