eBay (NASDAQ:EBAY) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of eBay (NASDAQ:EBAY) from a hold rating to a buy rating in a report issued on Monday morning.

Several other brokerages have also commented on EBAY. Benchmark lifted their price objective on eBay from $58.00 to $65.00 and gave the stock a buy rating in a report on Thursday, August 1st. Morgan Stanley boosted their price target on eBay from $61.00 to $64.00 and gave the company an overweight rating in a research note on Friday, July 19th. Cantor Fitzgerald reaffirmed a neutral rating and set a $62.00 price target on shares of eBay in a research report on Monday. JPMorgan Chase & Co. started coverage on shares of eBay in a report on Tuesday, June 25th. They issued a neutral rating and a $60.00 price objective on the stock. Finally, Piper Sandler restated an overweight rating and set a $64.00 target price (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $57.29.

eBay Price Performance

NASDAQ EBAY opened at $65.20 on Monday. eBay has a one year low of $37.17 and a one year high of $66.23. The stock has a 50-day moving average of $59.28 and a 200 day moving average of $54.81. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 2.45 and a beta of 1.32.

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

eBay Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 annualized dividend and a yield of 1.66%. eBay’s payout ratio is 21.51%.

Insider Activity

In related news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other eBay news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred 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 sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Several institutional investors have recently bought and sold shares of EBAY. Van ECK Associates Corp lifted its holdings in shares of eBay by 25.0% in the 1st quarter. Van ECK Associates Corp now owns 85,688 shares of the e-commerce company’s stock valued at $4,523,000 after acquiring an additional 17,143 shares during the last quarter. SteelPeak Wealth LLC increased its position in shares of eBay by 42.3% during the 1st quarter. SteelPeak Wealth LLC now owns 57,642 shares of the e-commerce company’s stock valued at $3,042,000 after purchasing an additional 17,140 shares during the last quarter. Cetera Investment Advisers raised its holdings in eBay by 325.4% during the 1st quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock valued at $4,178,000 after buying an additional 60,544 shares during the period. PGGM Investments lifted its position in eBay by 88.0% in the second quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock worth $3,283,000 after buying an additional 28,604 shares during the last quarter. Finally, Freestone Capital Holdings LLC boosted its stake in eBay by 435.2% during the first quarter. Freestone Capital Holdings LLC now owns 36,431 shares of the e-commerce company’s stock worth $1,923,000 after buying an additional 29,624 shares during the period. 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.