eBay (NASDAQ:EBAY) Price Target Raised to $74.00

eBay (NASDAQ:EBAY) had its price objective lifted by Morgan Stanley from $70.00 to $74.00 in a research note released on Thursday morning,Benzinga reports. Morgan Stanley currently has an overweight rating on the e-commerce company’s stock.

Several other analysts have also recently issued reports on EBAY. JPMorgan Chase & Co. increased their price objective on eBay from $54.00 to $60.00 and gave the company a “neutral” rating in a research note on Thursday. Barclays lifted their price objective on eBay from $72.00 to $77.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler upped their target price on shares of eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday. Benchmark lifted their price target on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Robert W. Baird boosted their price target on shares of eBay from $68.00 to $75.00 and gave the stock an “outperform” 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 company. According to data from MarketBeat, eBay has a consensus rating of “Hold” and an average price target of $67.12.

eBay Stock Up 1.4 %

Shares of NASDAQ EBAY opened at $68.60 on Thursday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The business’s 50 day moving average is $65.83 and its two-hundred day moving average is $65.00. eBay has a 52-week low of $49.25 and a 52-week high of $71.61. The firm has a market cap of $31.97 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 2.22 and a beta of 1.30.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.34 by $0.04. The company had revenue of $2.59 billion during the quarter, compared to analysts’ expectations of $2.55 billion. eBay had a return on equity of 30.97% and a net margin of 19.68%. eBay’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period last year, the business posted $1.25 EPS. Research analysts predict that eBay will post 3.86 EPS for the current year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date of this dividend is Friday, May 30th. eBay’s dividend payout ratio is currently 27.62%.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 28,060 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total value of $1,903,029.20. Following the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at approximately $4,413,725.60. The trade was a 30.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 7,500 shares of the stock in a transaction on Thursday, April 3rd. The stock was sold at an average price of $66.35, for a total value of $497,625.00. Following the sale, the chief executive officer now directly owns 590,108 shares of the company’s stock, valued at approximately $39,153,665.80. This represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,310 shares of company stock valued at $3,121,626 in the last ninety days. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Impax Asset Management Group plc boosted its holdings in eBay by 2,536.5% in the 1st quarter. Impax Asset Management Group plc now owns 3,535,290 shares of the e-commerce company’s stock valued at $239,037,000 after purchasing an additional 3,401,198 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of eBay by 12.4% in the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP boosted its stake in shares of eBay by 25.6% in the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after buying an additional 2,277,839 shares in the last quarter. Marshall Wace LLP grew its holdings in eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock worth $130,421,000 after acquiring an additional 1,584,404 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in eBay in the fourth quarter worth $96,214,000. 87.48% of the stock is currently 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.