eBay Inc. (EBAY) Earns “Sector Perform” Rating from Royal Bank Of Canada
Royal Bank Of Canada restated their sector perform rating on shares of eBay Inc. (NASDAQ:EBAY) in a report issued on Thursday morning, MarketBeat Ratings reports. They currently have a $39.00 target price on the e-commerce company’s stock, up from their prior target price of $36.00.
A number of other research analysts have also weighed in on EBAY. BMO Capital Markets reaffirmed a market perform rating and issued a $40.00 price objective on shares of eBay in a research note on Wednesday. Macquarie set a $40.00 price objective on shares of eBay and gave the company a neutral rating in a research note on Wednesday. KeyCorp reaffirmed a hold rating on shares of eBay in a research note on Wednesday, October 11th. BidaskClub lowered shares of eBay from a strong-buy rating to a buy rating in a research note on Thursday, July 27th. Finally, Mizuho reaffirmed an underperform rating and issued a $34.00 price objective on shares of eBay in a research note on Monday, August 7th. Three investment analysts have rated the stock with a sell rating, twenty-two have issued a hold rating and eighteen have given a buy rating to the stock. eBay currently has a consensus rating of Hold and a consensus price target of $38.22.
Shares of eBay (EBAY) traded up 0.86% during midday trading on Thursday, reaching $37.61. 15,105,890 shares of the company’s stock traded hands. The stock has a 50 day moving average of $38.08 and a 200-day moving average of $35.62. The stock has a market cap of $39.29 billion, a P/E ratio of 5.60 and a beta of 1.36. eBay has a 12 month low of $27.28 and a 12 month high of $39.28.
eBay (NASDAQ:EBAY) last released its quarterly earnings data on Wednesday, October 18th. The e-commerce company reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. eBay had a net margin of 80.45% and a return on equity of 15.69%. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the firm earned $0.45 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts forecast that eBay will post $2.00 EPS for the current fiscal year.
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eBay announced that its Board of Directors has initiated a stock repurchase plan on Thursday, July 20th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the e-commerce company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other eBay news, SVP Stephen Fisher sold 11,956 shares of eBay stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $36.24, for a total transaction of $433,285.44. Following the completion of the sale, the senior vice president now directly owns 89,740 shares in the company, valued at $3,252,177.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian J. Doerger sold 10,450 shares of eBay stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $36.56, for a total transaction of $382,052.00. Following the sale, the vice president now owns 24,001 shares of the company’s stock, valued at $877,476.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,238 shares of company stock valued at $3,439,297. 6.78% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in EBAY. BlackRock Inc. lifted its holdings in shares of eBay by 2,424.9% in the 1st quarter. BlackRock Inc. now owns 62,409,458 shares of the e-commerce company’s stock worth $2,095,089,000 after acquiring an additional 59,937,723 shares during the last quarter. Glenview Capital Management LLC lifted its holdings in shares of eBay by 442.0% in the 2nd quarter. Glenview Capital Management LLC now owns 8,905,922 shares of the e-commerce company’s stock worth $310,995,000 after acquiring an additional 7,262,862 shares during the last quarter. Harding Loevner LP bought a new stake in shares of eBay in the 2nd quarter worth approximately $128,878,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of eBay by 1,077.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 3,779,300 shares of the e-commerce company’s stock worth $131,973,000 after acquiring an additional 3,458,300 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of eBay by 134.5% in the 2nd quarter. Janus Henderson Group PLC now owns 5,951,860 shares of the e-commerce company’s stock worth $207,826,000 after acquiring an additional 3,414,163 shares during the last quarter. Hedge funds and other institutional investors own 84.85% of the company’s stock.
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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