eBay (NASDAQ:EBAY) Reaches New 1-Year High on Analyst Upgrade

Shares of eBay Inc. (NASDAQ:EBAY) reached a new 52-week high during trading on Tuesday after The Goldman Sachs Group raised their price target on the stock from $46.00 to $55.00. The Goldman Sachs Group currently has a sell rating on the stock. eBay traded as high as $67.80 and last traded at $67.47, with a volume of 863121 shares trading hands. The stock had previously closed at $66.88.

Several other equities research analysts also recently weighed in on the company. Daiwa America raised eBay to a “hold” rating in a research report on Wednesday, August 14th. Piper Sandler reiterated an “overweight” rating and set a $64.00 price target (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft boosted their price target on eBay from $60.00 to $64.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Morgan Stanley raised their price objective on shares of eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Wolfe Research assumed coverage on shares of eBay in a research note on Tuesday, July 16th. They issued a “peer perform” rating for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.48.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total transaction of $374,400.00. Following the completion of the transaction, the chief executive officer now directly owns 553,666 shares in the company, valued at approximately $36,852,008.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,224 shares of company stock valued at $2,600,666 over the last quarter. 0.38% of the stock is currently owned by insiders.

Institutional Investors Weigh In On eBay

A number of large investors have recently made changes to their positions in EBAY. Fisher Asset Management LLC grew its holdings in eBay by 43.8% in the 4th quarter. Fisher Asset Management LLC now owns 8,633 shares of the e-commerce company’s stock valued at $377,000 after buying an additional 2,629 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in eBay during the fourth quarter worth about $457,000. Kapitalo Investimentos Ltda acquired a new stake in eBay during the fourth quarter worth about $69,000. CWM LLC raised its stake in eBay by 65.4% during the first quarter. CWM LLC now owns 17,090 shares of the e-commerce company’s stock worth $902,000 after purchasing an additional 6,755 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in eBay by 40.8% in the 1st quarter. GAMMA Investing LLC now owns 2,690 shares of the e-commerce company’s stock valued at $142,000 after purchasing an additional 779 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Stock Performance

The firm’s 50 day moving average price is $61.57 and its two-hundred day moving average price is $55.84. The firm has a market cap of $33.59 billion, a PE ratio of 13.33, a PEG ratio of 2.59 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

eBay (NASDAQ:EBAY) last posted its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, research analysts forecast that eBay Inc. will post 3.86 earnings per share for the current year.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio (DPR) is presently 21.51%.

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.