Stifel Nicolaus Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price target increased by Stifel Nicolaus from $62.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the e-commerce company’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 12.33% from the stock’s current price.

Several other brokerages have also weighed in on EBAY. Piper Sandler raised their target price on eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a research report on Thursday, May 1st. UBS Group raised their target price on eBay from $72.00 to $73.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 29th. Truist Financial raised their target price on eBay from $62.00 to $68.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Sanford C. Bernstein lowered eBay from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $70.00 to $65.00 in a research report on Tuesday, April 22nd. Finally, Daiwa Capital Markets raised eBay from a “neutral” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Monday, May 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.42.

eBay Stock Performance

Shares of EBAY opened at $77.56 on Tuesday. The stock has a 50-day simple moving average of $76.63 and a 200-day simple moving average of $70.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $35.76 billion, a PE 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.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. The business 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 quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.18 EPS. On average, analysts predict that eBay will post 3.86 earnings per share for the current fiscal year.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 12,644 shares of the business’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $79.06, for a total value of $999,634.64. Following the completion of the transaction, the chief executive officer directly owned 325,053 shares of the company’s stock, valued at $25,698,690.18. The trade was a 3.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Julie A. Loeger sold 127,070 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.43, for a total value of $8,822,470.10. Following the completion of the transaction, the senior vice president directly owned 123,282 shares of the company’s stock, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 347,222 shares of company stock valued at $25,143,522 over the last three months. 0.64% of the stock is currently owned by insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors have recently made changes to their positions in the stock. LPL Financial LLC increased its stake in eBay by 15.9% in the fourth quarter. LPL Financial LLC now owns 319,118 shares of the e-commerce company’s stock valued at $19,769,000 after purchasing an additional 43,675 shares during the last quarter. Norges Bank acquired a new position in eBay in the fourth quarter valued at $40,805,000. Pictet Asset Management Holding SA increased its stake in eBay by 5.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 286,438 shares of the e-commerce company’s stock valued at $17,745,000 after purchasing an additional 14,316 shares during the last quarter. Allstate Corp acquired a new position in eBay in the fourth quarter valued at $888,000. Finally, Allianz SE acquired a new position in eBay in the fourth quarter valued at $168,000. 87.48% of the stock is owned by institutional investors and hedge funds.

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.