Needham & Company LLC Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY - Get Free Report) had its target price upped by stock analysts at Needham & Company LLC from $72.00 to $78.00 in a report issued on Thursday,Benzinga reports. The firm currently has a "buy" rating on the e-commerce company's stock. Needham & Company LLC's price target suggests a potential upside of 13.70% from the stock's previous close.

A number of other research firms also recently weighed in on EBAY. Barclays set a $72.00 target price on eBay and gave the stock an "overweight" rating in a research report on Thursday, February 27th. Morgan Stanley cut their price objective on eBay from $71.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. StockNews.com upgraded shares of eBay from a "hold" rating to a "buy" rating in a research report on Saturday, April 26th. Citigroup reduced their price objective on shares of eBay from $80.00 to $79.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Susquehanna boosted their target price on shares of eBay from $60.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, March 3rd. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.12.

eBay Stock Performance

eBay stock traded up $0.93 during mid-day trading on Thursday, hitting $68.60. 5,892,928 shares of the company's stock traded hands, compared to its average volume of 4,975,647. The company has a market cap of $31.97 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a one year low of $49.25 and a one year high of $71.61. The firm has a 50 day moving average price of $65.83 and a 200 day moving average price of $65.02.

eBay (NASDAQ:EBAY - Get Free Report) last announced its earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.04. eBay had a net margin of 19.68% and a return on equity of 30.97%. The firm had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the firm posted $1.25 EPS. eBay's revenue was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that eBay will post 3.86 EPS for the current year.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 28,060 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total value of $1,903,029.20. Following the transaction, the chief financial officer now directly owns 65,080 shares of the company's stock, valued at approximately $4,413,725.60. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Cornelius Boone sold 3,958 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the sale, the senior vice president now directly owns 94,392 shares of the company's stock, valued at $6,329,927.52. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,310 shares of company stock worth $3,121,626. Insiders own 0.38% of the company's stock.

Institutional Trading of eBay

A number of institutional investors and hedge funds have recently modified their holdings of EBAY. Abound Financial LLC bought a new position in eBay in the 1st quarter worth $29,000. Golden State Wealth Management LLC bought a new position in shares of eBay in the fourth quarter worth about $27,000. Orion Capital Management LLC acquired a new position in shares of eBay during the 4th quarter worth about $27,000. Pinney & Scofield Inc. bought a new stake in eBay during the 4th quarter valued at approximately $31,000. Finally, Itau Unibanco Holding S.A. bought a new position in eBay in the 4th quarter worth approximately $33,000. 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.