Bank of America Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price target hoisted by Bank of America from $71.00 to $82.00 in a research report sent to investors on Tuesday,Benzinga reports. The firm currently has a neutral rating on the e-commerce company’s stock.

A number of other research firms also recently issued reports on EBAY. Robert W. Baird increased their price target on shares of eBay from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, July 10th. Citigroup decreased their price target on shares of eBay from $80.00 to $79.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Barclays increased their price target on shares of eBay from $72.00 to $77.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Stifel Nicolaus increased their price target on shares of eBay from $62.00 to $68.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Piper Sandler increased their price target on shares of eBay from $70.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, eBay has a consensus rating of “Hold” and a consensus target price of $70.42.

eBay Stock Performance

eBay stock opened at $78.50 on Tuesday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.16. The firm has a 50-day moving average of $76.51 and a 200-day moving average of $70.26. The firm has a market cap of $36.19 billion, a P/E ratio of 18.69, a P/E/G ratio of 2.21 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 posted its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The company had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. eBay had a net margin of 19.78% and a return on equity of 36.60%. eBay’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.25 earnings per share. Sell-side analysts expect that eBay will post 3.86 EPS for the current year.

Insider Activity at eBay

In related news, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of eBay stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total transaction of $1,825,935.86. Following the transaction, the senior vice president owned 44,413 shares in the company, valued at approximately $3,436,677.94. The trade was a 34.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julie A. Loeger sold 127,070 shares of eBay stock in a transaction on Friday, May 9th. The shares were sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the transaction, the senior vice president owned 123,282 shares in the company, valued at approximately $8,559,469.26. This trade represents a 50.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 347,222 shares of company stock worth $25,143,522. 0.64% of the stock is owned by corporate insiders.

Institutional Trading of eBay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. increased its holdings in 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 acquiring an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in eBay by 4.6% in the 1st quarter. Independent Franchise Partners LLP now owns 11,689,267 shares of the e-commerce company’s stock valued at $791,714,000 after acquiring an additional 510,629 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of eBay by 5.6% in the 2nd quarter. Nordea Investment Management AB now owns 9,085,603 shares of the e-commerce company’s stock worth $674,061,000 after buying an additional 478,410 shares during the last quarter. Invesco Ltd. increased its holdings in shares of eBay by 8.0% in the 1st quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company’s stock worth $571,736,000 after buying an additional 627,823 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of eBay by 4.4% in the 1st quarter. Northern Trust Corp now owns 7,109,481 shares of the e-commerce company’s stock worth $481,525,000 after buying an additional 300,216 shares during the last quarter. 87.48% of the stock is currently owned by 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.