Benchmark Co. Raises eBay Inc. (EBAY) Price Target to $38.00
eBay Inc. (NASDAQ:EBAY) had its price target lifted by stock analysts at Benchmark Co. from $33.00 to $38.00 in a note issued to investors on Monday. The brokerage presently has a “buy” rating on the e-commerce company’s stock. Benchmark Co.’s price objective would suggest a potential upside of 19.16% from the stock’s previous close.
Several other equities analysts have also recently issued reports on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $40.00 price target on shares of eBay in a research report on Wednesday, October 12th. Argus reissued a “buy” rating and set a $36.00 price objective on shares of eBay in a research note on Tuesday, July 26th. Goldman Sachs Group Inc. set a $34.00 price objective on shares of eBay and gave the stock a “buy” rating in a research note on Thursday, July 21st. Robert W. Baird reissued an “outperform” rating and set a $35.00 price objective on shares of eBay in a research note on Monday, August 1st. Finally, Axiom Securities reissued a “buy” rating and set a $34.00 price objective (up previously from $30.00) on shares of eBay in a research note on Friday, July 15th. Three analysts have rated the stock with a sell rating, twenty-two have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. eBay presently has a consensus rating of “Hold” and a consensus price target of $33.80.
Shares of eBay (NASDAQ:EBAY) opened at 31.89 on Monday. The stock’s 50 day moving average is $31.99 and its 200 day moving average is $27.43. eBay has a 52 week low of $21.52 and a 52 week high of $33.19. The stock has a market cap of $36.00 billion, a price-to-earnings ratio of 19.60 and a beta of 1.17.
eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Wednesday, July 20th. The e-commerce company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. eBay had a net margin of 22.00% and a return on equity of 29.12%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the previous year, the company earned $0.42 earnings per share. eBay’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities analysts forecast that eBay will post $1.89 EPS for the current year.
In related news, Director Robert Holmes Swan sold 50,000 shares of eBay stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 425,288 shares in the company, valued at approximately $13,035,077.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Raymond J. Pittman sold 39,030 shares of eBay stock in a transaction that occurred on Wednesday, August 31st. The stock was sold at an average price of $32.14, for a total transaction of $1,254,424.20. Following the completion of the sale, the senior vice president now owns 32,738 shares of the company’s stock, valued at $1,052,199.32. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Virginia Retirement System bought a new stake in eBay during the first quarter worth approximately $418,000. Credit Agricole S A boosted its stake in eBay by 179.2% in the first quarter. Credit Agricole S A now owns 938,596 shares of the e-commerce company’s stock worth $22,395,000 after buying an additional 602,421 shares during the period. BB&T Securities LLC boosted its stake in eBay by 2.2% in the first quarter. BB&T Securities LLC now owns 104,128 shares of the e-commerce company’s stock worth $2,484,000 after buying an additional 2,198 shares during the period. Cypress Capital Management LLC boosted its stake in eBay by 0.4% in the first quarter. Cypress Capital Management LLC now owns 133,811 shares of the e-commerce company’s stock worth $3,193,000 after buying an additional 516 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in eBay during the first quarter worth approximately $691,000. Institutional investors own 82.07% of the company’s stock.
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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