Citigroup Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its target price hoisted by Citigroup from $68.00 to $75.00 in a research report report published on Friday,Benzinga reports. Citigroup currently has a buy rating on the e-commerce company’s stock.

Other research analysts have also issued reports about the stock. JMP Securities reissued a “market perform” rating on shares of eBay in a report on Monday, December 16th. JPMorgan Chase & Co. cut their target price on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of eBay in a research report on Thursday, October 31st. Truist Financial raised their price target on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Benchmark restated a “buy” rating and issued a $65.00 price target on shares of eBay in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.92.

eBay Trading Down 1.1 %

EBAY stock opened at $61.61 on Friday. The firm has a fifty day moving average price of $62.70 and a 200 day moving average price of $60.15. eBay has a fifty-two week low of $40.16 and a fifty-two week high of $67.80. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market cap of $29.51 billion, a PE ratio of 15.48, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Friday, November 29th. eBay’s payout ratio is 27.14%.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 553,666 shares in the company, valued at approximately $36,852,008.96. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now owns 71,469 shares in the company, valued at approximately $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 27,283 shares of company stock valued at $1,738,975. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in shares of eBay in the 3rd quarter valued at approximately $36,000. USA Financial Formulas purchased a new stake in eBay during the 3rd quarter worth approximately $38,000. Northwest Investment Counselors LLC acquired a new position in eBay during the 3rd quarter valued at approximately $50,000. Versant Capital Management Inc raised its holdings in shares of eBay by 115.5% in the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock worth $52,000 after buying an additional 448 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its stake in shares of eBay by 276.0% during the third quarter. Financial Management Professionals Inc. now owns 846 shares of the e-commerce company’s stock worth $55,000 after buying an additional 621 shares during the period. Institutional investors and hedge funds 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.