eBay (NASDAQ:EBAY) Given New $82.00 Price Target at Bank of America

Key Points

• Bank of America has raised its price target for eBay (NASDAQ:EBAY) from $71.00 to $82.00, indicating a potential upside of 4.60% from the current stock price, while maintaining a "neutral" rating.
• Currently, eBay has a consensus rating of "Hold" from analysts, with 10 buy ratings, 18 hold ratings, and two sell ratings.
• eBay reported $1.38 earnings per share for the last quarter, exceeding expectations and showing a year-over-year revenue increase of 1.1% to $2.59 billion.

eBay (NASDAQ:EBAY - Free Report) had its price objective increased by Bank of America from $71.00 to $82.00 in a research note published on Tuesday morning,Benzinga reports. Bank of America currently has a neutral rating on the e-commerce company's stock.

A number of other research firms have also recently weighed in on EBAY. Cantor Fitzgerald raised their price target on eBay from $65.00 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Evercore ISI raised their price target on eBay from $63.00 to $69.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. Wedbush restated a "neutral" rating and issued a $72.00 price target on shares of eBay in a research note on Wednesday, June 11th. Cfra Research upgraded eBay to a "moderate buy" rating in a research note on Thursday, June 5th. Finally, Citizens Jmp raised eBay to a "hold" rating in a report on Thursday, July 10th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $77.69.

eBay Stock Down 2.5%

Shares of NASDAQ EBAY traded down $2.25 during mid-day trading on Tuesday, hitting $89.50. The company had a trading volume of 2,448,857 shares, compared to its average volume of 5,544,045. The company has a market capitalization of $41.26 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 2.05 and a beta of 1.26. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.17. eBay has a 1-year low of $54.55 and a 1-year high of $92.79. The business's 50-day simple moving average is $77.03 and its 200 day simple moving average is $70.49.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. eBay had a return on equity of 38.17% and a net margin of 20.86%. The company had revenue of $2.73 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the firm earned $1.18 earnings per share. eBay's quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that eBay will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. eBay's payout ratio is currently 25.55%.

Insiders Place Their Bets

In other eBay news, SVP Jordan Douglas Bradle Sweetnam sold 22,206 shares of eBay stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $77.90, for a total value of $1,729,847.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Cornelius Boone sold 2,985 shares of eBay stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total value of $234,829.95. Following the completion of the sale, the senior vice president directly owned 92,053 shares in the company, valued at $7,241,809.51. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 337,222 shares of company stock worth $24,463,922 over the last quarter. 0.64% of the stock is owned by company insiders.

Institutional Investors Weigh In On eBay

A number of hedge funds and other institutional investors have recently modified their holdings of EBAY. Impax Asset Management Group plc lifted its position in shares of eBay by 2,536.5% during the 1st quarter. Impax Asset Management Group plc now owns 3,535,290 shares of the e-commerce company's stock valued at $239,037,000 after acquiring an additional 3,401,198 shares during the period. Ameriprise Financial Inc. lifted its position in shares of eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock valued at $1,765,148,000 after acquiring an additional 3,149,934 shares during the period. Nuveen LLC acquired a new stake in shares of eBay during the 1st quarter valued at approximately $202,346,000. Independent Franchise Partners LLP lifted its position in shares of eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company's stock valued at $692,517,000 after acquiring an additional 2,277,839 shares during the period. Finally, Pacer Advisors Inc. lifted its position in shares of eBay by 5,181.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,196,321 shares of the e-commerce company's stock valued at $148,757,000 after acquiring an additional 2,154,735 shares during the period. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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.