eBay (NASDAQ:EBAY) Receives “Buy” Rating from Needham & Company LLC

eBay (NASDAQ:EBAY)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research note issued to investors on Thursday,Benzinga reports. They currently have a $72.00 target price on the e-commerce company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 11.21% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company raised their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an “equal weight” rating in a report on Thursday. Robert W. Baird decreased their target price on shares of 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 shares of eBay and gave the stock an “overweight” rating in a research note on Thursday. Bank of America decreased their target price on shares of eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, UBS Group raised their target price on shares of eBay from $66.00 to $72.00 and gave the stock a “neutral” rating in a research note on Monday, February 24th. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, eBay currently has an average rating of “Hold” and a consensus price target of $65.33.

eBay Stock Performance

EBAY opened at $64.74 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The company has a market cap of $31.01 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.22 and a beta of 1.35. The company’s 50 day moving average is $66.22 and its 200 day moving average is $63.73. eBay has a 12-month low of $47.06 and a 12-month high of $71.61.

Insider Buying and Selling

In other eBay news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $63.21, for a total transaction of $355,556.25. Following the completion of the transaction, the chief executive officer now directly owns 531,167 shares of the company’s stock, valued at $33,575,066.07. The trade was a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Cornelius Boone sold 3,989 shares of eBay stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total transaction of $260,082.80. Following the transaction, the senior vice president now directly owns 71,469 shares of the company’s stock, valued at $4,659,778.80. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,149 shares of company stock worth $1,746,065. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Integrated Advisors Network LLC purchased a new position in eBay during the fourth quarter worth $210,000. Ameriflex Group Inc. purchased a new stake in shares of eBay during the fourth quarter valued at $38,000. Ascent Group LLC boosted its stake in shares of eBay by 8.2% during the fourth quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock valued at $833,000 after purchasing an additional 1,024 shares during the period. Mackenzie Financial Corp boosted its stake in shares of eBay by 17.4% during the fourth quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock valued at $6,546,000 after purchasing an additional 15,639 shares during the period. Finally, Forum Financial Management LP boosted its stake in shares of eBay by 43.2% during the fourth quarter. Forum Financial Management LP now owns 4,680 shares of the e-commerce company’s stock valued at $290,000 after purchasing an additional 1,411 shares during the period. 87.48% of the stock is owned by hedge funds and other 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.