eBay (NASDAQ:EBAY) Hits New 1-Year High - What's Next?

Key Points

• eBay's share price reached a new 52-week high of $93.50, with a recent trading value of $93.09 and substantial trading volume of 358,874 shares.
• Analysts have upgraded eBay's stock ratings, with a consensus rating of "Hold" and an average price target of $78.19, reflecting growing confidence in the company's performance.
• The company reported a quarterly earnings per share (EPS) of $1.37, exceeding estimates and marking a 6.1% year-over-year revenue increase to $2.73 billion.

Shares of eBay Inc. (NASDAQ:EBAY - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $93.50 and last traded at $93.09, with a volume of 358874 shares. The stock had previously closed at $92.54.

Analysts Set New Price Targets

A number of research firms have issued reports on EBAY. UBS Group set a $87.00 target price on eBay in a research report on Thursday, July 31st. Daiwa Capital Markets upgraded eBay from a "neutral" rating to a "buy" rating and set a $70.00 price target for the company in a research report on Monday, May 12th. Barclays restated an "overweight" rating and issued a $92.00 target price (up previously from $77.00) on shares of eBay in a research note on Thursday, July 31st. Deutsche Bank Aktiengesellschaft increased their price objective on eBay from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 23rd. Finally, JMP Securities reiterated a "market perform" rating on shares of eBay in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $78.19.

eBay Stock Performance

The business's fifty day moving average price is $79.43 and its two-hundred day moving average price is $71.72. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $43.55 billion, a P/E ratio of 20.99, a P/E/G ratio of 2.25 and a beta of 1.27.

eBay (NASDAQ:EBAY - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. eBay had a return on equity of 38.97% and a net margin of 20.86%. The business had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.64 billion. During the same period last year, the company earned $1.18 EPS. The company's revenue for the quarter was up 6.1% on a year-over-year basis. As a group, sell-side analysts forecast that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 29th. eBay's dividend payout ratio is presently 25.55%.

Insider Activity

In other news, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $7,241,809.51. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Julie A. Loeger sold 92,895 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $72.06, for a total value of $6,694,013.70. Following the sale, the senior vice president directly owned 123,282 shares of the company's stock, valued at $8,883,700.92. This represents a 42.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 276,104 shares of company stock valued at $22,025,676. 0.64% of the stock is currently owned by company insiders.

Institutional Trading of eBay

Several institutional investors and hedge funds have recently made changes to their positions in the business. Ameriprise Financial Inc. increased its stake in eBay by 12.4% in the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company's stock worth $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP grew its stake in eBay by 4.6% in the 1st quarter. Independent Franchise Partners LLP now owns 11,689,267 shares of the e-commerce company's stock worth $791,714,000 after acquiring an additional 510,629 shares in the last quarter. Nordea Investment Management AB increased its position in shares of eBay by 5.6% during the second quarter. Nordea Investment Management AB now owns 9,085,603 shares of the e-commerce company's stock worth $674,061,000 after acquiring an additional 478,410 shares during the period. Invesco Ltd. increased its position in shares of eBay by 8.0% during the first quarter. Invesco Ltd. now owns 8,441,396 shares of the e-commerce company's stock worth $571,736,000 after acquiring an additional 627,823 shares during the period. Finally, Northern Trust Corp raised its stake in shares of eBay by 4.4% during 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 in the last quarter. 87.48% of the stock is currently owned by institutional investors.

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.