eBay (NASDAQ:EBAY) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of eBay (NASDAQ:EBAY) in a report released on Thursday,Benzinga reports. They currently have a $72.00 price objective on the e-commerce company’s stock.

Several other equities analysts have also issued reports on the company. Bank of America lowered their price target on eBay from $72.00 to $71.00 and set a “neutral” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft lowered their price target on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Morgan Stanley boosted their price target on eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Piper Sandler boosted their price target on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Wedbush initiated coverage on eBay in a research note on Monday, December 9th. They set a “neutral” rating and a $70.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, eBay has an average rating of “Hold” and an average price target of $65.33.

eBay Price Performance

NASDAQ EBAY opened at $64.74 on Thursday. eBay has a twelve month low of $48.04 and a twelve month high of $71.61. 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 stock has a market capitalization of $31.01 billion, a PE ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 1.35. The stock has a 50-day simple moving average of $66.22 and a 200 day simple moving average of $63.78.

eBay Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from eBay’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 1.79%. eBay’s dividend payout ratio is 29.07%.

Insider Buying and Selling

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total transaction of $378,281.25. Following the transaction, the chief executive officer now owns 530,998 shares of the company’s stock, valued at approximately $35,709,615.50. This represents a 1.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 5,252 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,141,040.40. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,149 shares of company stock worth $1,746,065 in the last three months. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of EBAY. Ameriprise Financial Inc. lifted its holdings in eBay by 12.4% during the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock worth $1,765,148,000 after buying an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock worth $692,517,000 after buying an additional 2,277,839 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of eBay in the 3rd quarter valued at $105,506,000. Marshall Wace LLP lifted its stake in shares of eBay by 304.2% in the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock valued at $130,421,000 after purchasing an additional 1,584,404 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of eBay in the 4th quarter valued at $96,214,000. 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.