eBay (NASDAQ:EBAY) PT Lowered to $61.00

eBay (NASDAQ:EBAY) had its price target decreased by equities research analysts at Morgan Stanley from $62.00 to $61.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s target price points to a potential upside of 23.33% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their target price on shares of eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Susquehanna boosted their price objective on shares of eBay from $43.00 to $52.00 and gave the company a “neutral” rating in a research report on Thursday, February 29th. The Goldman Sachs Group began coverage on shares of eBay in a research report on Wednesday, January 10th. They set a “sell” rating and a $38.00 price objective on the stock. Finally, Piper Sandler boosted their price objective on shares of eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, eBay has a consensus rating of “Hold” and an average target price of $51.35.

eBay Price Performance

Shares of EBAY stock traded down $1.60 during trading hours on Thursday, reaching $49.46. The stock had a trading volume of 7,399,339 shares, compared to its average volume of 6,402,090. The stock’s fifty day simple moving average is $50.60 and its 200 day simple moving average is $44.74. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09. eBay has a 12 month low of $37.17 and a 12 month high of $52.93. The firm has a market capitalization of $25.05 billion, a PE ratio of 9.50, a PEG ratio of 2.05 and a beta of 1.31.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the previous year, the business posted $0.87 earnings per share. eBay’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that eBay will post 3.75 EPS for the current year.

eBay announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 27th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the e-commerce company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total value of $50,129.95. Following the completion of the sale, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

Hedge Funds Weigh In On eBay

Hedge funds and other institutional investors have recently made changes to their positions in the stock. CVA Family Office LLC purchased a new position in shares of eBay in the 4th quarter valued at about $25,000. American National Bank increased its position in eBay by 200.0% during the first quarter. American National Bank now owns 600 shares of the e-commerce company’s stock worth $32,000 after buying an additional 400 shares during the period. Jones Financial Companies Lllp grew its stake in shares of eBay by 73.5% in the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after purchasing an additional 310 shares during the last quarter. Riverview Trust Co purchased a new position in shares of eBay in the 1st quarter valued at approximately $48,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of eBay in the 3rd quarter valued at approximately $46,000. Hedge funds and other 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.