Morgan Stanley Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY - Get Free Report) had its price target hoisted by Morgan Stanley from $70.00 to $74.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the e-commerce company's stock. Morgan Stanley's price target would suggest a potential upside of 9.04% from the stock's current price.

Several other equities research analysts also recently issued reports on the stock. Citigroup cut 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. UBS Group boosted their price objective on eBay from $72.00 to $73.00 and gave the company a "neutral" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on eBay from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Thursday. Piper Sandler increased their price objective on eBay from $70.00 to $74.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, BMO Capital Markets lifted their target price on shares of eBay from $59.00 to $63.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, eBay has a consensus rating of "Hold" and a consensus price target of $67.12.

eBay Stock Performance

EBAY stock traded down $0.30 during mid-day trading on Thursday, reaching $67.86. The company had a trading volume of 5,574,680 shares, compared to its average volume of 4,992,289. The stock's 50-day simple moving average is $65.92 and its two-hundred day simple moving average is $65.00. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $31.62 billion, a P/E ratio of 17.08, a P/E/G ratio of 2.22 and a beta of 1.43. eBay has a one year low of $48.52 and a one year high of $71.61.

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, topping 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 business had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the previous year, the firm posted $1.25 earnings per share. eBay's revenue was up 1.1% compared to the same quarter last year. Research analysts anticipate that eBay will post 3.86 EPS for the current year.

Insider Buying and Selling at eBay

In other news, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction dated 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 approximately $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 28,060 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 in the company, valued at approximately $4,413,725.60. This represents a 30.13 % 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. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

Several institutional investors and hedge funds have recently modified their holdings of EBAY. Pine Valley Investments Ltd Liability Co acquired a new stake in eBay during the third quarter worth $203,000. World Investment Advisors LLC purchased a new stake in eBay in the 3rd quarter valued at approximately $2,947,000. Wilmington Savings Fund Society FSB acquired a new position in shares of eBay during the 3rd quarter valued at about $241,000. Tidal Investments LLC lifted its stake in shares of eBay by 7.5% during the third quarter. Tidal Investments LLC now owns 67,209 shares of the e-commerce company's stock worth $4,376,000 after purchasing an additional 4,677 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of eBay by 14.5% in the third quarter. Franklin Resources Inc. now owns 784,378 shares of the e-commerce company's stock worth $52,459,000 after acquiring an additional 99,561 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company's stock.

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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