Raymond James Trims eBay (NASDAQ:EBAY) Target Price to $34.00

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eBay (NASDAQ:EBAY) had its price objective dropped by research analysts at Raymond James from $46.00 to $34.00 in a research report issued to clients and investors on Tuesday, October 23rd. The firm presently has an “outperform” rating on the e-commerce company’s stock. Raymond James’ target price indicates a potential upside of 20.91% from the company’s previous close.

A number of other research analysts have also weighed in on EBAY. Monness Crespi & Hardt cut their price objective on eBay from $48.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, July 19th. Robert W. Baird cut their price objective on eBay from $52.00 to $44.00 and set an “outperform” rating for the company in a research report on Thursday, July 19th. Benchmark cut their price objective on eBay from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, July 19th. Morgan Stanley cut their price objective on eBay from $58.00 to $55.00 and set a “$34.11” rating for the company in a research report on Thursday, July 19th. Finally, Citigroup restated a “buy” rating and set a $50.00 price objective on shares of eBay in a research report on Thursday, July 19th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $40.97.

NASDAQ EBAY opened at $28.12 on Tuesday. eBay has a 1-year low of $26.36 and a 1-year high of $46.99. The firm has a market cap of $27.07 billion, a PE ratio of 16.35, a PEG ratio of 1.59 and a beta of 1.32. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 1.11.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Tuesday, October 30th. The e-commerce company reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. eBay had a positive return on equity of 23.65% and a negative net margin of 7.93%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. As a group, analysts forecast that eBay will post 1.84 EPS for the current fiscal year.

In related news, SVP Jae Hyun Lee sold 26,204 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $35.08, for a total value of $919,236.32. Following the completion of the transaction, the senior vice president now owns 128,457 shares of the company’s stock, valued at $4,506,271.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.78% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. purchased a new position in eBay in the second quarter worth $106,000. Valeo Financial Advisors LLC purchased a new stake in shares of eBay during the second quarter valued at $107,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of eBay by 15,439.1% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,574 shares of the e-commerce company’s stock valued at $328,000 after buying an additional 3,551 shares during the last quarter. NEXT Financial Group Inc purchased a new stake in shares of eBay during the third quarter valued at $130,000. Finally, Harel Insurance Investments & Financial Services Ltd. grew its holdings in shares of eBay by 223.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,128 shares of the e-commerce company’s stock valued at $150,000 after buying an additional 2,850 shares during the last quarter. 87.56% of the stock is currently owned by institutional investors and hedge funds.

eBay Company Profile

eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

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