eBay (NASDAQ:EBAY) Shares Gap Up to $49.45

eBay Inc. (NASDAQ:EBAY) shares gapped up prior to trading on Thursday . The stock had previously closed at $49.45, but opened at $51.33. eBay shares last traded at $50.41, with a volume of 1,675,050 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Mizuho increased their price target on eBay from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. BMO Capital Markets increased their price objective on eBay from $49.00 to $53.00 and gave the stock a “market perform” rating in a research report on Wednesday, February 28th. Morgan Stanley upgraded eBay from an “underweight” rating to an “overweight” rating in a research report on Thursday. UBS Group increased their price objective on eBay from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, The Goldman Sachs Group started coverage on eBay in a research report on Wednesday, January 10th. They set a “sell” rating and a $38.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $49.21.

eBay Stock Up 1.9 %

The firm has a 50 day moving average of $48.91 and a two-hundred day moving average of $44.16. The firm has a market capitalization of $26.11 billion, a price-to-earnings ratio of 9.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.09.

eBay (NASDAQ:EBAY) last announced its quarterly earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. eBay had a return on equity of 29.16% and a net margin of 27.36%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. During the same period last year, the firm posted $0.87 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts anticipate that eBay Inc. will post 3.69 EPS for the current fiscal year.

eBay Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from eBay’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. eBay’s dividend payout ratio (DPR) is presently 20.69%.

eBay declared that its Board of Directors has initiated a share buyback program on Tuesday, February 27th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at eBay

In other news, SVP Edward O. Garcia sold 1,165 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the transaction, the senior vice president now directly owns 31,888 shares in the company, valued at $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On eBay

Hedge funds have recently made changes to their positions in the stock. Wimmer Associates 1 LLC increased its holdings in eBay by 3.0% in the fourth quarter. Wimmer Associates 1 LLC now owns 8,583 shares of the e-commerce company’s stock worth $374,000 after purchasing an additional 250 shares in the last quarter. GHE LLC grew its stake in eBay by 1.5% in the fourth quarter. GHE LLC now owns 17,480 shares of the e-commerce company’s stock valued at $762,000 after acquiring an additional 260 shares during the period. Savant Capital LLC grew its stake in eBay by 2.3% in the fourth quarter. Savant Capital LLC now owns 11,411 shares of the e-commerce company’s stock valued at $498,000 after acquiring an additional 262 shares during the period. Raymond James Trust N.A. boosted its position in shares of eBay by 3.3% during the second quarter. Raymond James Trust N.A. now owns 8,316 shares of the e-commerce company’s stock valued at $371,000 after buying an additional 268 shares during the last quarter. Finally, Affinity Investment Advisors LLC boosted its position in shares of eBay by 3.0% during the fourth quarter. Affinity Investment Advisors LLC now owns 9,494 shares of the e-commerce company’s stock valued at $414,000 after buying an additional 275 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

About eBay

eBay Inc, together with its subsidiaries, operates marketplace platforms that connect buyers and sellers in the United States, the United Kingdom, China, Germany, and internationally. The company's marketplace platform includes its online marketplace at ebay.com, off-platform businesses, and the eBay suite of mobile apps.