eBay (NASDAQ:EBAY) Price Target Raised to $68.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target for eBay's stock from $62.00 to $68.00, maintaining a "hold" rating, which implies a potential downside of 13.73% from its previous close.
• eBay recently reported $1.38 earnings per share, exceeding expectations and showing a 1.1% year-over-year increase in revenue, totaling $2.59 billion for the quarter.
• Insiders, including CEO Jamie Iannone, sold a combined 347,222 shares worth over $25 million within the last ninety days, indicating a notable shift in insider sentiment.

eBay (NASDAQ:EBAY - Get Free Report) had its price target hoisted by investment analysts at Stifel Nicolaus from $62.00 to $68.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the e-commerce company's stock. Stifel Nicolaus' price objective suggests a potential downside of 12.33% from the company's previous close.

Several other brokerages have also commented on EBAY. Wells Fargo & Company increased their price target on shares of eBay from $63.00 to $66.00 and gave the stock an "equal weight" rating in a research note on Monday, June 30th. Daiwa America raised shares of eBay from a "hold" rating to a "strong-buy" rating in a research note on Monday, May 12th. Wall Street Zen upgraded shares of eBay from a "hold" rating to a "buy" rating in a report on Saturday, April 26th. Cowen reaffirmed a "hold" rating on shares of eBay in a research note on Tuesday, July 22nd. Finally, TD Securities raised their price objective on shares of eBay from $62.00 to $64.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, eBay currently has a consensus rating of "Hold" and an average target price of $70.42.

eBay Stock Performance

NASDAQ:EBAY traded down $0.94 during mid-day trading on Tuesday, reaching $77.56. The stock had a trading volume of 7,955,378 shares, compared to its average volume of 4,324,793. eBay has a twelve month low of $53.74 and a twelve month high of $83.53. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market capitalization of $35.76 billion, a price-to-earnings ratio of 18.47, a PEG ratio of 2.19 and a beta of 1.26. The business has a 50 day simple moving average of $76.63 and a 200 day simple moving average of $70.31.

eBay (NASDAQ:EBAY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The e-commerce company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. eBay had a net margin of 19.78% and a return on equity of 36.60%. During the same quarter in the previous year, the firm posted $1.18 earnings per share. eBay's quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts expect that eBay will post 3.86 earnings per share for the current fiscal year.

Insider Buying and Selling at eBay

In related news, 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 value of $8,822,470.10. Following the completion of the sale, the senior vice president owned 123,282 shares of the company's stock, valued at $8,559,469.26. This trade represents a 50.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jordan Douglas Bradle Sweetnam sold 23,597 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $77.38, for a total value of $1,825,935.86. Following the transaction, the senior vice president owned 44,413 shares of the company's stock, valued at $3,436,677.94. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 347,222 shares of company stock worth $25,143,522 over the last ninety days. Insiders own 0.64% of the company's stock.

Institutional Trading of eBay

Hedge funds have recently modified their holdings of the company. Princeton Global Asset Management LLC raised its stake in shares of eBay by 433.9% in the second quarter. Princeton Global Asset Management LLC now owns 331 shares of the e-commerce company's stock worth $25,000 after purchasing an additional 269 shares during the last quarter. Wealth Preservation Advisors LLC purchased a new stake in eBay during the 1st quarter worth about $26,000. GFG Capital LLC purchased a new position in eBay during the 2nd quarter worth approximately $28,000. Abound Financial LLC purchased a new position in shares of eBay in the 1st quarter valued at approximately $29,000. Finally, Orion Capital Management LLC acquired a new position in eBay during the fourth quarter worth $27,000. 87.48% of the stock is owned by hedge funds and other institutional investors.

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.