Bank of America Issues Pessimistic Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its target price decreased by equities research analysts at Bank of America from $72.00 to $71.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the e-commerce company’s stock. Bank of America‘s target price indicates a potential upside of 9.67% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Barclays set a $72.00 price objective on eBay and gave the stock an “overweight” rating in a research report on Thursday. Sanford C. Bernstein upgraded shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target on the stock in a report on Tuesday, November 5th. Citigroup upped their price objective on shares of eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Truist Financial lifted their target price on shares of eBay from $58.00 to $62.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price target on shares of eBay from $59.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $65.33.

eBay Stock Up 2.0 %

NASDAQ EBAY opened at $64.74 on Thursday. eBay has a 1 year low of $47.06 and a 1 year high of $71.61. The stock has a market capitalization of $31.01 billion, a PE ratio of 16.27, a PEG ratio of 2.22 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50-day moving average is $66.22 and its 200 day moving average is $63.73.

Insider Activity

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the transaction, the chief executive officer now owns 531,167 shares of the company’s stock, valued at approximately $33,575,066.07. The trade was a 1.05 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 5,252 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the sale, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,141,040.40. The trade was 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 valued at $1,746,065 over the last ninety days. 0.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On eBay

Hedge funds and other institutional investors have recently modified their holdings of the company. Wealth Group Ltd. bought a new position in eBay in the third quarter valued at about $543,000. PFG Investments LLC bought a new position in shares of eBay in the 3rd quarter worth approximately $320,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of eBay by 2.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 52,517 shares of the e-commerce company’s stock worth $3,419,000 after buying an additional 1,241 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in eBay by 33.3% during the third quarter. First Trust Direct Indexing L.P. now owns 24,424 shares of the e-commerce company’s stock valued at $1,590,000 after buying an additional 6,103 shares during the period. Finally, Measured Wealth Private Client Group LLC bought a new stake in eBay during the third quarter valued at approximately $226,000. 87.48% of the stock is owned by institutional investors.

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.