eBay (NASDAQ:EBAY) Hits New 52-Week 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.

eBay Inc. (NASDAQ:EBAY - Get Free Report)'s share price hit a new 52-week high 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.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EBAY. Cantor Fitzgerald boosted their price objective on shares of eBay from $69.00 to $85.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Wall Street Zen raised shares of eBay from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Bank of America lifted their price target on shares of eBay from $71.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Citizens Jmp upgraded shares of eBay to a "hold" rating in a research note on Thursday, July 10th. Finally, UBS Group set a $87.00 price target on shares of eBay in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $78.19.

eBay Trading Up 0.2%

The company has a debt-to-equity ratio of 1.05, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50-day moving average is $78.62 and its two-hundred day moving average is $71.23. The stock has a market cap of $42.37 billion, a P/E ratio of 20.38, a price-to-earnings-growth ratio of 2.21 and a beta of 1.27.

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

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 29th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. eBay's dividend payout ratio (DPR) is currently 25.55%.

Insider Activity at eBay

In other news, CEO Jamie Iannone sold 12,644 shares of eBay stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $76.02, for a total value of $961,196.88. Following the transaction, the chief executive officer owned 317,625 shares of the company's stock, valued at $24,145,852.50. The trade was a 3.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Julie A. Loeger sold 127,070 shares of the firm's stock in a transaction on Friday, May 9th. The stock was sold at an average price of $69.43, for a total transaction of $8,822,470.10. Following the completion of the transaction, the senior vice president directly owned 123,282 shares of the company's stock, valued at approximately $8,559,469.26. This represents a 50.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 403,174 shares of company stock worth $30,848,146. 0.64% of the stock is currently owned by corporate insiders.

Institutional Trading of eBay

Institutional investors and hedge funds have recently bought and sold shares of the business. Princeton Global Asset Management LLC lifted its stake in eBay by 433.9% during the 2nd quarter. Princeton Global Asset Management LLC now owns 331 shares of the e-commerce company's stock valued at $25,000 after acquiring an additional 269 shares during the period. Wealth Preservation Advisors LLC acquired a new position in shares of eBay in the 1st quarter valued at $26,000. GFG Capital LLC acquired a new position in shares of eBay in the 2nd quarter valued at $28,000. Abound Financial LLC acquired a new position in shares of eBay in the 1st quarter valued at $29,000. Finally, Orion Capital Management LLC acquired a new position in shares of eBay in the 4th quarter valued at $27,000. 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.

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