eBay (NASDAQ:EBAY) Trading 1.2% Higher After Earnings Beat

eBay Inc. (NASDAQ:EBAY) traded up 1.2% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $70.45 and last traded at $68.95. 3,348,072 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 4,983,797 shares. The stock had previously closed at $68.16.

The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a net margin of 19.68% and a return on equity of 30.97%. The company had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue was up 1.1% on a year-over-year basis.

eBay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 annualized dividend and a yield of 1.69%. eBay’s payout ratio is 29.07%.

Wall Street Analysts Forecast Growth

EBAY has been the subject of several recent research reports. BMO Capital Markets boosted their target price on shares of eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Sanford C. Bernstein lowered eBay from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $70.00 to $65.00 in a report on Tuesday, April 22nd. JMP Securities restated a “market perform” rating on shares of eBay in a report on Thursday. Piper Sandler increased their price target on eBay from $70.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Cantor Fitzgerald increased their target price on shares of eBay from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, eBay currently has a consensus rating of “Hold” and an average price target of $67.12.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were sold at an average price of $66.35, for a total value of $497,625.00. Following the transaction, the chief executive officer now directly owns 590,108 shares in the company, valued at approximately $39,153,665.80. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the sale, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,308,946.80. This trade represents a 1.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,310 shares of company stock valued at $3,121,626. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

A number of hedge funds and other institutional investors have recently modified their holdings of EBAY. Golden State Wealth Management LLC bought a new stake in shares of eBay in the 4th quarter valued at about $27,000. Orion Capital Management LLC bought a new stake in eBay in the 4th quarter worth about $27,000. Abound Financial LLC purchased a new position in eBay in the 1st quarter worth about $29,000. Pinney & Scofield Inc. bought a new position in eBay during the 4th quarter valued at about $31,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in eBay during the 4th quarter worth about $33,000. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Price Performance

The firm has a market cap of $31.97 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The stock has a 50 day simple moving average of $65.83 and a two-hundred day simple moving average of $65.02. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

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.