eBay (NASDAQ:EBAY) Price Target Raised to $57.00 at Wells Fargo & Company

eBay (NASDAQ:EBAY) had its price target raised by Wells Fargo & Company from $47.00 to $57.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has an equal weight rating on the e-commerce company’s stock.

Several other research analysts have also recently weighed in on EBAY. UBS Group increased their price target on shares of eBay from $46.00 to $47.00 and gave the company a neutral rating in a report on Wednesday, February 28th. Robert W. Baird increased their target price on shares of eBay from $57.00 to $58.00 and gave the stock an outperform rating in a research report on Monday, June 17th. Deutsche Bank Aktiengesellschaft increased their target price on shares of eBay from $55.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Benchmark restated a buy rating and set a $58.00 target price on shares of eBay in a research report on Monday, June 17th. Finally, Mizuho increased their target price on shares of eBay from $44.00 to $49.00 and gave the stock a neutral rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $53.71.

eBay Stock Down 0.1 %

Shares of EBAY stock opened at $53.95 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99. The firm’s 50-day moving average is $52.25 and its 200-day moving average is $48.09. The stock has a market cap of $27.08 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 2.49 and a beta of 1.32. eBay has a 52-week low of $37.17 and a 52-week high of $55.35.

eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The company had revenue of $2.56 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 25.97% and a return on equity of 29.11%. eBay’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 EPS. Sell-side analysts predict that eBay will post 3.72 EPS for the current year.

eBay Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 31st were given a $0.27 dividend. The ex-dividend date was Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.00%. eBay’s dividend payout ratio is currently 21.51%.

eBay declared that its board has initiated a stock buyback plan on Tuesday, February 27th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the e-commerce company to reacquire up to 8.1% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Insider Activity

In other news, SVP Edward O. Garcia sold 986 shares of the firm’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the transaction, the senior vice president now owns 37,126 shares of the company’s stock, valued at $1,962,109.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Julie A. Loeger sold 7,419 shares of eBay stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.20, for a total transaction of $402,109.80. Following the completion of the transaction, the senior vice president now owns 70,797 shares of the company’s stock, valued at $3,837,197.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Edward O. Garcia sold 986 shares of eBay stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the transaction, the senior vice president now directly owns 37,126 shares of the company’s stock, valued at approximately $1,962,109.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,558 shares of company stock valued at $3,001,254. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. bought a new position in eBay during the first quarter worth $30,000. LRI Investments LLC acquired a new stake in eBay in the first quarter worth $29,000. CVA Family Office LLC acquired a new stake in eBay in the fourth quarter worth $25,000. American National Bank grew its holdings in eBay by 200.0% in the first quarter. American National Bank now owns 600 shares of the e-commerce company’s stock worth $32,000 after purchasing an additional 400 shares during the period. Finally, Jones Financial Companies Lllp grew its holdings in eBay by 73.5% in the fourth quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock worth $32,000 after purchasing an additional 310 shares during the period. Institutional investors own 87.48% of the company’s stock.

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.