Brokerages Set eBay Inc. (EBAY) Target Price at $37.99

eBay Inc. (NASDAQ:EBAY) has been assigned a consensus rating of “Hold” from the forty-four ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation, twenty have given a hold recommendation and nineteen have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.99.

A number of equities research analysts recently commented on EBAY shares. Goldman Sachs Group, Inc. (The) set a $42.00 target price on eBay and gave the stock a “buy” rating in a report on Wednesday, June 28th. Aegis lifted their target price on eBay from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Canaccord Genuity reaffirmed a “hold” rating and set a $34.00 target price on shares of eBay in a report on Wednesday, September 6th. Morgan Stanley set a $29.00 target price on eBay and gave the stock a “sell” rating in a report on Friday, July 21st. Finally, Vetr raised eBay from a “hold” rating to a “buy” rating and set a $37.30 target price for the company in a report on Monday, June 12th.

In other eBay news, SVP Stephen Fisher sold 11,956 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the sale, the senior vice president now owns 89,740 shares of the company’s stock, valued at approximately $3,252,177.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Holmes Swan sold 25,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the sale, the director now directly owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. Insiders sold a total of 95,238 shares of company stock worth $3,439,297 in the last ninety days. 6.78% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Captrust Financial Advisors acquired a new stake in eBay in the 2nd quarter valued at about $108,000. BB&T Investment Services Inc. acquired a new stake in eBay in the 2nd quarter valued at about $119,000. Westside Investment Management Inc. raised its position in eBay by 284.0% in the 1st quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after purchasing an additional 2,638 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in eBay in the 2nd quarter valued at about $123,000. Finally, FNY Partners Fund LP raised its position in eBay by 660.0% in the 1st quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after purchasing an additional 3,300 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors.

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eBay (NASDAQ:EBAY) traded up 0.46% during trading on Wednesday, reaching $38.99. 4,984,444 shares of the company’s stock traded hands. The firm has a market cap of $41.73 billion, a price-to-earnings ratio of 5.85 and a beta of 1.36. eBay has a one year low of $27.28 and a one year high of $39.27. The company has a 50 day moving average of $37.33 and a 200 day moving average of $35.36.

eBay (NASDAQ:EBAY) last released its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue was up 4.4% compared to the same quarter last year. Equities research analysts predict that eBay will post $2.00 EPS for the current year.

eBay announced that its board has initiated a share repurchase plan on Thursday, July 20th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About eBay

eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.

Analyst Recommendations for eBay (NASDAQ:EBAY)

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