eBay (NASDAQ:EBAY) Hits New 1-Year High - Time to Buy?

eBay Inc. (NASDAQ:EBAY - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $80.30 and last traded at $80.31, with a volume of 465338 shares trading hands. The stock had previously closed at $79.03.

Wall Street Analysts Forecast Growth

EBAY has been the topic of a number of recent analyst reports. Morgan Stanley reiterated an "overweight" rating and set a $81.00 target price (up previously from $74.00) on shares of eBay in a research report on Monday. Wedbush reiterated a "neutral" rating and set a $72.00 target price on shares of eBay in a research report on Wednesday, June 11th. Evercore ISI increased their price objective on eBay from $63.00 to $69.00 and gave the company an "in-line" rating in a research note on Thursday, May 1st. Cantor Fitzgerald increased their price objective on eBay from $65.00 to $69.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, Citizens Jmp raised eBay to a "hold" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a sell rating, eighteen have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, eBay currently has a consensus rating of "Hold" and an average price target of $69.42.

eBay Price Performance

The company has a market capitalization of $37.77 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.21 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. The company's 50 day simple moving average is $75.13 and its 200 day simple moving average is $69.55.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.34 by $0.04. The company had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. eBay had a net margin of 19.78% and a return on equity of 36.60%. The firm's revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 earnings per share. As a group, sell-side analysts predict that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Friday, May 30th. eBay's dividend payout ratio is presently 27.62%.

Insider Buying and Selling

In related news, CEO Jamie Iannone sold 10,974 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total transaction of $831,280.50. Following the completion of the sale, the chief executive officer directly owned 306,651 shares of the company's stock, valued at $23,228,813.25. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.67, for a total value of $234,829.95. Following the sale, the senior vice president directly owned 92,053 shares of the company's stock, valued at approximately $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 347,222 shares of company stock valued at $25,143,522 in the last ninety days. Company insiders own 0.64% of the company's stock.

Institutional Investors Weigh In On eBay

Several hedge funds have recently modified their holdings of the stock. Ameriprise Financial Inc. lifted its holdings in shares of eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after purchasing an additional 3,149,934 shares during the period. Independent Franchise Partners LLP lifted its holdings in eBay by 4.6% in the first quarter. Independent Franchise Partners LLP now owns 11,689,267 shares of the e-commerce company's stock valued at $791,714,000 after acquiring an additional 510,629 shares during the period. Invesco Ltd. lifted its holdings in eBay by 8.0% in the first quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company's stock valued at $571,736,000 after acquiring an additional 627,823 shares during the period. Northern Trust Corp lifted its holdings in eBay by 4.4% in the first quarter. Northern Trust Corp now owns 7,109,481 shares of the e-commerce company's stock valued at $481,525,000 after acquiring an additional 300,216 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in eBay by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company's stock valued at $435,665,000 after acquiring an additional 245,624 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Company Profile

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.