Needham & Company LLC Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its target price raised by investment analysts at Needham & Company LLC from $78.00 to $95.00 in a report released on Thursday, July 31st, Marketbeat reports. The firm presently has a “buy” rating on the e-commerce company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 2.00% from the company’s current price.

Several other equities analysts also recently commented on the company. Cowen restated a “hold” rating on shares of eBay in a research report on Tuesday, July 22nd. Evercore ISI increased their price objective on eBay from $63.00 to $69.00 and gave the stock an “in-line” rating in a research note on Thursday, May 1st. Susquehanna lifted their price target on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Monday, May 5th. TD Securities raised their price target on shares of eBay from $62.00 to $64.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Finally, Wedbush reiterated a “neutral” rating and issued a $72.00 target price on shares of eBay in a report on Wednesday, June 11th. Two analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $78.19.

eBay Price Performance

NASDAQ:EBAY traded up $0.12 during trading hours on Thursday, hitting $93.14. The company’s stock had a trading volume of 5,326,361 shares, compared to its average volume of 6,380,925. eBay has a twelve month low of $54.80 and a twelve month high of $93.50. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $42.56 billion, a P/E ratio of 20.52, a PEG ratio of 2.25 and a beta of 1.27. The stock has a fifty day simple moving average of $79.43 and a 200-day simple moving average of $71.67.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.64 billion. eBay had a return on equity of 38.97% and a net margin of 20.86%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.18 earnings per share. On average, analysts anticipate that eBay will post 3.86 EPS for the current fiscal year.

Insider Transactions at eBay

In related news, SVP Julie A. Loeger sold 92,895 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total transaction of $6,694,013.70. Following the completion of the sale, the senior vice president directly owned 123,282 shares of the company’s stock, valued at $8,883,700.92. This represents a 42.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jamie Iannone sold 12,644 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $76.02, for a total transaction of $961,196.88. Following the completion of the sale, the chief executive officer directly owned 317,625 shares of the company’s stock, valued at approximately $24,145,852.50. This trade represents a 3.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,104 shares of company stock worth $22,025,676. 0.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of EBAY. Princeton Global Asset Management LLC grew its stake in shares of eBay by 433.9% in the second quarter. Princeton Global Asset Management LLC now owns 331 shares of the e-commerce company’s stock valued at $25,000 after acquiring an additional 269 shares in the last quarter. Wealth Preservation Advisors LLC bought a new position in eBay during the 1st quarter valued at $26,000. Orion Capital Management LLC purchased a new position in shares of eBay in the 4th quarter worth about $27,000. GFG Capital LLC bought a new stake in eBay in the 2nd quarter valued at about $28,000. Finally, Abound Financial LLC bought a new position in shares of eBay in the first quarter worth approximately $29,000. 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.