eBay (NASDAQ:EBAY) Price Target Raised to $68.00

eBay (NASDAQ:EBAY) had its price target hoisted by Stifel Nicolaus from $62.00 to $68.00 in a research note released on Tuesday,Benzinga reports. The firm currently has a hold rating on the e-commerce company’s stock.

A number of other analysts have also weighed in on the company. Citigroup reduced their target price on eBay from $80.00 to $79.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Evercore ISI increased their target price on eBay from $63.00 to $69.00 and gave the stock an “in-line” rating in a research note on Thursday, May 1st. Needham & Company LLC increased their target price on eBay from $72.00 to $78.00 and gave the stock a “buy” rating in a research note on Thursday, May 1st. TD Securities increased their target price on eBay from $62.00 to $64.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Finally, Truist Financial increased their target price on eBay from $62.00 to $68.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, eBay has an average rating of “Hold” and a consensus target price of $76.73.

eBay Stock Performance

NASDAQ:EBAY opened at $91.75 on Tuesday. The stock’s fifty day moving average is $77.03 and its 200 day moving average is $70.49. eBay has a fifty-two week low of $53.74 and a fifty-two week high of $92.79. The firm has a market capitalization of $42.30 billion, a PE ratio of 20.21, a PEG ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07. eBay had a return on equity of 38.17% and a net margin of 20.86%. The company had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the firm posted $1.18 EPS. eBay’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts anticipate that eBay will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.16 dividend on an annualized basis and a yield of 1.3%. eBay’s dividend payout ratio (DPR) is presently 25.55%.

Insider Buying and Selling

In other eBay news, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the sale, the senior vice president directly owned 92,053 shares in the company, valued at approximately $7,241,809.51. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of the stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $77.90, for a total value of $1,729,847.40. The disclosure for this sale can be found here. Insiders sold 337,222 shares of company stock worth $24,463,922 in the last three months. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On eBay

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in eBay by 12.4% in the fourth 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 last quarter. Independent Franchise Partners LLP raised its stake in eBay by 4.6% in the first quarter. Independent Franchise Partners LLP now owns 11,689,267 shares of the e-commerce company’s stock valued at $791,714,000 after buying an additional 510,629 shares during the last quarter. Nordea Investment Management AB raised its stake in eBay by 5.6% in the second quarter. Nordea Investment Management AB now owns 9,085,603 shares of the e-commerce company’s stock valued at $674,061,000 after buying an additional 478,410 shares during the last quarter. Invesco Ltd. raised its stake in eBay by 8.0% in the first quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company’s stock valued at $571,736,000 after buying an additional 627,823 shares during the last quarter. Finally, Northern Trust Corp raised its stake in eBay by 4.4% in the first quarter. Northern Trust Corp now owns 7,109,481 shares of the e-commerce company’s stock valued at $481,525,000 after buying an additional 300,216 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Company Profile

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.