DA Davidson Weighs in on eBay Inc.’s Q2 2018 Earnings (EBAY)
eBay Inc. (NASDAQ:EBAY) – DA Davidson boosted their Q2 2018 EPS estimates for shares of eBay in a report issued on Thursday. DA Davidson analyst T. Forte now anticipates that the e-commerce company will post earnings per share of $0.40 for the quarter, up from their previous forecast of $0.37. DA Davidson also issued estimates for eBay’s Q3 2018 earnings at $0.46 EPS.
A number of other brokerages have also commented on EBAY. Goldman Sachs Group set a $49.00 price target on eBay and gave the stock a “buy” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. set a $45.00 target price on eBay and gave the company a “neutral” rating in a research note on Thursday, February 1st. Macquarie set a $46.00 target price on eBay and gave the company a “neutral” rating in a research note on Thursday, February 1st. Barclays set a $49.00 target price on eBay and gave the company a “buy” rating in a research note on Thursday, February 1st. Finally, Robert W. Baird set a $52.00 target price on eBay and gave the company a “buy” rating in a research note on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and eighteen have issued a buy rating to the stock. eBay currently has an average rating of “Hold” and an average target price of $42.87.
eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, January 31st. The e-commerce company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. eBay had a positive return on equity of 16.82% and a negative net margin of 10.62%. The company had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.61 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year.
Hedge funds have recently made changes to their positions in the company. BB&T Investment Services Inc. bought a new position in eBay in the second quarter valued at about $119,000. Valeo Financial Advisors LLC bought a new position in eBay in the third quarter valued at about $122,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in eBay in the second quarter valued at about $123,000. Westside Investment Management Inc. boosted its holdings in eBay by 1.7% in the second quarter. Westside Investment Management Inc. now owns 3,627 shares of the e-commerce company’s stock valued at $127,000 after acquiring an additional 60 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new position in eBay in the third quarter valued at about $139,000. Institutional investors own 85.84% of the company’s stock.
In other news, SVP Raymond J. Pittman sold 31,400 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $35.58, for a total transaction of $1,117,212.00. Following the sale, the senior vice president now owns 74,334 shares in the company, valued at $2,644,803.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian J. Doerger sold 4,359 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $35.75, for a total value of $155,834.25. Following the sale, the vice president now owns 23,392 shares in the company, valued at approximately $836,264. The disclosure for this sale can be found here. Insiders have sold 42,419 shares of company stock worth $1,512,740 in the last 90 days. Company insiders own 6.78% of the company’s stock.
eBay declared that its board has initiated a stock repurchase plan on Wednesday, January 31st that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the e-commerce company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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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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