eBay (NASDAQ:EBAY) Rating Increased to Buy at Wall Street Zen

Key Points

• eBay's stock rating was upgraded from "hold" to "buy" by Wall Street Zen, indicating increased analyst confidence in the company.
• Needham & Company raised its price target on eBay shares from $78 to $95, while other analysts maintain neutral ratings with varying price targets.
• eBay reported $1.37 earnings per share for its latest quarter, surpassing expectations and demonstrating a 6.1% increase in revenue year-over-year.

eBay (NASDAQ:EBAY - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

A number of other equities research analysts also recently issued reports on EBAY. Needham & Company LLC increased their price objective on shares of eBay from $78.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday. Wedbush reiterated a "neutral" rating and set a $72.00 price objective on shares of eBay in a research note on Wednesday, June 11th. JPMorgan Chase & Co. increased their price objective on shares of eBay from $66.00 to $68.00 and gave the stock a "neutral" rating in a research note on Friday, July 11th. Citizens Jmp upgraded shares of eBay to a "hold" rating in a research note on Thursday, July 10th. Finally, Truist Financial increased their target price on shares of eBay from $62.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $77.69.

eBay Price Performance

Shares of eBay stock opened at $91.74 on Friday. eBay has a twelve month low of $54.55 and a twelve month high of $92.79. The company has a quick ratio of 1.17, a current ratio of 1.00 and a debt-to-equity ratio of 1.05. The company has a 50-day simple moving average of $77.42 and a two-hundred day simple moving average of $70.68. The stock has a market capitalization of $42.29 billion, a price-to-earnings ratio of 20.21, a price-to-earnings-growth ratio of 2.43 and a beta of 1.27.

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

Insider Buying and Selling at eBay

In other eBay news, CEO Jamie Iannone sold 12,644 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $79.06, for a total transaction of $999,634.64. Following the completion of the sale, the chief executive officer owned 325,053 shares of the company's stock, valued at approximately $25,698,690.18. This represents a 3.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 2,985 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.67, for a total transaction of $234,829.95. Following the sale, the senior vice president directly owned 92,053 shares of the company's stock, 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 have sold 337,222 shares of company stock worth $24,463,922 in the last 90 days. Corporate insiders own 0.64% of the company's stock.

Institutional Trading of eBay

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Princeton Global Asset Management LLC increased its position 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 purchasing an additional 269 shares during the period. Wealth Preservation Advisors LLC acquired a new stake in eBay during the 1st quarter valued at approximately $26,000. GFG Capital LLC acquired a new stake in eBay during the 2nd quarter valued at approximately $28,000. Abound Financial LLC acquired a new stake in shares of eBay during the 1st quarter worth approximately $29,000. Finally, Orion Capital Management LLC acquired a new stake in shares of eBay during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 87.48% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.