JPMorgan Chase & Co. Raises eBay (NASDAQ:EBAY) Price Target to $68.00

eBay (NASDAQ:EBAY - Get Free Report) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $66.00 to $68.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the e-commerce company's stock. JPMorgan Chase & Co.'s price target indicates a potential downside of 11.57% from the stock's previous close.

A number of other brokerages have also recently issued reports on EBAY. Citigroup decreased their target price on eBay from $80.00 to $79.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Cantor Fitzgerald lifted their target price on eBay from $65.00 to $69.00 and gave the stock a "neutral" rating in a report on Thursday, May 1st. Barclays lifted their target price on eBay from $72.00 to $77.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Robert W. Baird lifted their target price on eBay from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, Truist Financial lifted their price target on eBay from $62.00 to $68.00 and gave the company a "hold" rating in a report on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, eBay presently has a consensus rating of "Hold" and a consensus price target of $68.12.

eBay Price Performance

Shares of EBAY stock traded down $0.32 during mid-day trading on Friday, hitting $76.90. 1,713,494 shares of the stock traded hands, compared to its average volume of 5,037,064. eBay has a twelve month low of $53.10 and a twelve month high of $79.84. The firm has a market cap of $35.45 billion, a price-to-earnings ratio of 18.32, a price-to-earnings-growth ratio of 2.13 and a beta of 1.26. The company's 50-day simple moving average is $74.24 and its 200-day simple moving average is $68.86. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17.

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

Insider Buying and Selling

In other news, CEO Jamie Iannone sold 10,974 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $75.75, for a total value of $831,280.50. Following the sale, the chief executive officer directly owned 306,651 shares in the company, valued at approximately $23,228,813.25. This represents a 3.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Julie A. Loeger sold 92,895 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $72.06, for a total value of $6,694,013.70. Following the completion of the sale, the senior vice president owned 123,282 shares in the company, valued at approximately $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. In the last 90 days, insiders have sold 326,183 shares of company stock valued at $23,490,942. 0.64% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of EBAY. Wealth Preservation Advisors LLC acquired a new position in shares of eBay in the 1st quarter worth approximately $26,000. Orion Capital Management LLC acquired a new position in shares of eBay in the 4th quarter worth approximately $27,000. Abound Financial LLC acquired a new position in shares of eBay in the 1st quarter worth approximately $29,000. Pinney & Scofield Inc. acquired a new position in shares of eBay in the 4th quarter worth approximately $31,000. Finally, Itau Unibanco Holding S.A. acquired a new position in eBay during the 4th quarter worth $33,000. 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.

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