Benchmark Co. Reiterates Buy Rating for eBay Inc. (EBAY)
eBay Inc. (NASDAQ:EBAY)‘s stock had its “buy” rating reissued by research analysts at Benchmark Co. in a research report issued to clients and investors on Friday. They presently have a $45.00 price objective on the e-commerce company’s stock, up from their prior price objective of $40.00. Benchmark Co.’s target price indicates a potential upside of 17.52% from the stock’s previous close.
The analysts wrote, “We are raising our 2018 projections, resulting in our incremental price target increase from $40 to $45 per share. While we believe the general benefits from the SD initiative are broadly appreciated, we think the migration to SEM remains largely under-discussed, likely because of its longer-tailed, less immediate beneficial nature. While the SEO benefits are largely apparent, as well as the site optimization efforts via increases in quality landing page traffic, increases in conversion and wallet share remain a key missing ingredient that we suspect will also have a further fly wheel effect on users, traffic and leverage via word-of-mouth marketing.””
EBAY has been the subject of a number of other reports. Susquehanna Bancshares Inc reissued a “positive” rating and set a $41.00 target price (up from $40.00) on shares of eBay in a research note on Sunday, July 23rd. Morgan Stanley reissued an “underweight” rating and set a $28.00 target price on shares of eBay in a research note on Saturday, July 22nd. Robert W. Baird reissued an “outperform” rating and set a $38.00 target price on shares of eBay in a research note on Thursday, July 13th. Credit Suisse Group set a $44.00 target price on eBay and gave the stock a “buy” rating in a research note on Tuesday, July 11th. Finally, Aegis reissued a “buy” rating and set a $42.00 target price on shares of eBay in a research note on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have issued a buy rating to the company’s stock. eBay has an average rating of “Hold” and a consensus price target of $37.44.
Shares of eBay (NASDAQ:EBAY) opened at 38.29 on Friday. The firm has a market capitalization of $40.98 billion, a PE ratio of 5.74 and a beta of 1.34. The company’s 50 day moving average is $36.16 and its 200 day moving average is $34.85. eBay has a 12-month low of $27.28 and a 12-month high of $38.87.
eBay (NASDAQ:EBAY) last posted its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The business had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the prior year, the business earned $0.43 EPS. eBay’s revenue for the quarter was up 4.4% compared to the same quarter last year. On average, analysts forecast that eBay will post $2.00 earnings per share for the current year.
eBay declared that its board has initiated a share buyback plan on Thursday, July 20th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
In other eBay news, SVP Harry A. Lawton III sold 34,832 shares of eBay stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $35.00, for a total value of $1,219,120.00. Following the transaction, the senior vice president now owns 83,058 shares in the company, valued at $2,907,030. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Robert Holmes Swan sold 25,000 shares of eBay stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,238 shares of company stock worth $3,439,297. Company insiders own 6.78% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in eBay in the second quarter valued at about $108,000. BB&T Investment Services Inc. bought a new position in eBay in the second quarter valued at about $119,000. Westside Investment Management Inc. grew its position in eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after acquiring an additional 2,638 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in eBay in the second quarter valued at about $123,000. Finally, FNY Partners Fund LP grew its position in eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after acquiring an additional 3,300 shares during the last quarter. Hedge funds and other institutional investors own 84.83% of the company’s stock.
eBay Company Profile
eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.
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