eBay Inc. (EBAY) Upgraded by Deutsche Bank AG to “Buy”
Deutsche Bank AG upgraded shares of eBay Inc. (NASDAQ:EBAY) from a hold rating to a buy rating in a report issued on Wednesday morning. Deutsche Bank AG currently has $40.00 price objective on the e-commerce company’s stock, up from their previous price objective of $30.00.
Other research analysts have also issued reports about the company. Cantor Fitzgerald reiterated a hold rating on shares of eBay in a report on Saturday, July 9th. Goldman Sachs Group Inc. set a $34.00 price target on eBay and gave the stock a buy rating in a report on Thursday, July 21st. Monness Crespi & Hardt boosted their price objective on eBay from $29.00 to $32.00 and gave the company a buy rating in a research report on Thursday, July 21st. Robert W. Baird restated an outperform rating and set a $35.00 price objective on shares of eBay in a research report on Monday, August 8th. Finally, Royal Bank Of Canada restated a hold rating on shares of eBay in a research report on Monday, July 18th. Two analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $33.03.
Shares of eBay (NASDAQ:EBAY) opened at 31.85 on Wednesday. The stock’s 50 day moving average is $31.60 and its 200-day moving average is $26.79. The firm has a market cap of $35.96 billion, a P/E ratio of 19.58 and a beta of 1.13. eBay has a 52-week low of $21.52 and a 52-week high of $32.81.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. eBay had a return on equity of 29.12% and a net margin of 22.00%. The company earned $2.23 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. Equities analysts anticipate that eBay will post $1.89 earnings per share for the current fiscal year.
In other news, SVP Jae Hyun Lee sold 3,222 shares of the firm’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $31.53, for a total transaction of $101,589.66. Following the transaction, the senior vice president now directly owns 107,154 shares of the company’s stock, valued at $3,378,565.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert Holmes Swan sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $30.65, for a total value of $1,532,500.00. Following the transaction, the director now directly owns 425,288 shares in the company, valued at $13,035,077.20. The disclosure for this sale can be found here. 7.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EBAY. Magellan Asset Management Ltd boosted its position in shares of eBay by 16.1% in the second quarter. Magellan Asset Management Ltd now owns 42,152,135 shares of the e-commerce company’s stock worth $986,781,000 after buying an additional 5,833,160 shares during the period. Boston Partners boosted its position in shares of eBay by 10.8% in the second quarter. Boston Partners now owns 25,328,551 shares of the e-commerce company’s stock worth $592,941,000 after buying an additional 2,463,595 shares during the period. Independent Franchise Partners LLP boosted its position in shares of eBay by 17.6% in the second quarter. Independent Franchise Partners LLP now owns 23,263,787 shares of the e-commerce company’s stock worth $544,605,000 after buying an additional 3,485,706 shares during the period. FMR LLC boosted its position in shares of eBay by 183.0% in the second quarter. FMR LLC now owns 21,402,518 shares of the e-commerce company’s stock worth $501,033,000 after buying an additional 13,838,953 shares during the period. Finally, Fiduciary Management Inc. WI boosted its position in shares of eBay by 7.7% in the first quarter. Fiduciary Management Inc. WI now owns 19,016,842 shares of the e-commerce company’s stock worth $453,742,000 after buying an additional 1,367,451 shares during the period. 82.00% of the stock is currently owned by hedge funds and other institutional investors.
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company helps in enabling commerce on its platforms for buyers and sellers online. The Company has an open source platform that provides software developers and merchants an access to its application programming interfaces for developing software and solutions for commerce.
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