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

Needham & Company LLC reaffirmed their buy rating on shares of eBay (NASDAQ:EBAY) in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a $72.00 price objective on the e-commerce company’s stock.

A number of other brokerages also recently commented on EBAY. Evercore ISI increased their price objective on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on eBay from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $64.00 target price (up previously from $58.00) on shares of eBay in a research note on Thursday, August 1st. Finally, Wolfe Research began coverage on shares of eBay in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, eBay currently has an average rating of “Hold” and a consensus price target of $62.14.

eBay Trading Down 0.8 %

NASDAQ:EBAY opened at $63.10 on Wednesday. eBay has a 12-month low of $37.17 and a 12-month high of $67.80. The firm has a market cap of $30.86 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $62.71 and a 200 day moving average price of $56.41.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.53 billion. Sell-side analysts anticipate that eBay will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio is presently 20.97%.

Insider Buying and Selling at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the sale, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. This represents 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. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,391 shares of company stock valued at $2,678,424. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the second quarter worth about $26,000. Tortoise Investment Management LLC lifted its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares during the period. LRI Investments LLC acquired a new stake in shares of eBay during the 1st quarter valued at approximately $29,000. Hobbs Group Advisors LLC purchased a new stake in shares of eBay during the 2nd quarter worth approximately $29,000. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of eBay in the 1st quarter worth approximately $30,000. 87.48% of the stock is owned by institutional investors and hedge funds.

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.