Bank of America Increases eBay (NASDAQ:EBAY) Price Target to $82.00

eBay (NASDAQ:EBAY) had its price objective increased by equities researchers at Bank of America from $71.00 to $82.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the e-commerce company’s stock. Bank of America‘s price target indicates a potential upside of 5.72% from the stock’s previous close.

A number of other research firms have also recently issued reports on EBAY. Daiwa Capital Markets raised eBay from a “neutral” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Monday, May 12th. Wedbush reissued a “neutral” rating and set a $72.00 price objective on shares of eBay in a research report on Wednesday, June 11th. Citizens Jmp raised eBay to a “hold” rating in a research report on Thursday, July 10th. Piper Sandler lifted their price objective on eBay from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. Finally, UBS Group boosted their price target on eBay from $73.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.42.

eBay Price Performance

EBAY opened at $77.56 on Tuesday. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.19 and a beta of 1.26. eBay has a 1 year low of $53.74 and a 1 year high of $83.53. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16. The stock has a fifty day moving average price of $76.63 and a 200 day moving average price of $70.31.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.64 billion. eBay had a return on equity of 36.60% and a net margin of 19.78%. The business’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 earnings per share. Analysts forecast that eBay will post 3.86 EPS for the current fiscal year.

Insider Activity at eBay

In related news, SVP Julie A. Loeger sold 127,070 shares of the business’s stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the transaction, the senior vice president directly owned 123,282 shares in the company, valued at $8,559,469.26. The trade was a 50.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the transaction, the senior vice president owned 44,413 shares in the company, valued at $3,436,677.94. This represents a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 347,222 shares of company stock worth $25,143,522 over the last three months. Company insiders own 0.64% of the company’s stock.

Hedge Funds Weigh In On eBay

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its stake in eBay by 433.9% during the second quarter. Princeton Global Asset Management LLC now owns 331 shares of the e-commerce company’s stock valued at $25,000 after acquiring an additional 269 shares during the period. Wealth Preservation Advisors LLC bought a new position in eBay during the first quarter valued at about $26,000. Orion Capital Management LLC bought a new stake in shares of eBay in the 4th quarter valued at approximately $27,000. GFG Capital LLC bought a new stake in shares of eBay in the 2nd quarter valued at approximately $28,000. Finally, Abound Financial LLC bought a new stake in shares of eBay in the 1st quarter valued at approximately $29,000. 87.48% of the stock is currently owned by institutional investors.

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.