Benchmark Co. restated their buy rating on shares of eBay Inc. (NASDAQ:EBAY) in a report published on Friday, Marketbeat.com reports. Benchmark Co. currently has a $45.00 target price on the e-commerce company’s stock, up from their previous target price of $40.00.
“We are raising our 2018 projections, resulting in our incremental price target increase from $40 to $45 per share. While we believe the general benefits from the SD initiative are broadly appreciated, we think the migration to SEM remains largely under-discussed, likely because of its longer-tailed, less immediate beneficial nature. While the SEO benefits are largely apparent, as well as the site optimization efforts via increases in quality landing page traffic, increases in conversion and wallet share remain a key missing ingredient that we suspect will also have a further fly wheel effect on users, traffic and leverage via word-of-mouth marketing.”,” Benchmark Co.’s analyst commented.
EBAY has been the topic of several other research reports. Susquehanna Bancshares Inc reissued a positive rating and issued a $41.00 target price (up previously from $40.00) on shares of eBay in a research note on Sunday, July 23rd. Morgan Stanley reissued an underweight rating and issued a $28.00 target price on shares of eBay in a research note on Saturday, July 22nd. Robert W. Baird reissued an outperform rating and issued a $38.00 target price on shares of eBay in a research note on Thursday, July 13th. Credit Suisse Group set a $44.00 target price on eBay and gave the company a buy rating in a research note on Tuesday, July 11th. Finally, Aegis reissued a buy rating and issued a $42.00 target price on shares of eBay in a research note on Monday, July 17th. Three research analysts have rated the stock with a sell rating, twenty have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. eBay currently has an average rating of Hold and an average target price of $37.44.
eBay (NASDAQ EBAY) opened at 37.78 on Friday. The stock has a market cap of $40.44 billion, a PE ratio of 5.67 and a beta of 1.34. eBay has a 52 week low of $27.28 and a 52 week high of $38.87. The company has a 50-day moving average price of $36.16 and a 200-day moving average price of $34.85.
eBay (NASDAQ:EBAY) last released its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share for the quarter, meeting the 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 for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that eBay will post $2.00 earnings per share for the current year.
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eBay declared that its board has approved a share buyback program on Thursday, July 20th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
In other eBay news, Director Robert Holmes Swan sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $37.51, for a total transaction of $937,750.00. Following the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brian J. Doerger sold 10,450 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $36.56, for a total value of $382,052.00. Following the transaction, the vice president now owns 24,001 shares in the company, valued at approximately $877,476.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,238 shares of company stock worth $3,439,297. Corporate insiders own 6.78% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Intl Fcstone Inc. bought a new position in eBay during the 2nd quarter worth $612,000. USA Financial Portformulas Corp bought a new position in eBay during the 2nd quarter worth $2,952,000. Toronto Dominion Bank increased its stake in eBay by 24.9% during the 2nd quarter. Toronto Dominion Bank now owns 341,309 shares of the e-commerce company’s stock worth $11,916,000 after acquiring an additional 67,938 shares during the period. Oak Associates Ltd. OH increased its stake in eBay by 7.4% during the 2nd quarter. Oak Associates Ltd. OH now owns 556,160 shares of the e-commerce company’s stock worth $19,421,000 after acquiring an additional 38,300 shares during the period. Finally, U S Global Investors Inc. bought a new position in eBay during the 2nd quarter worth $2,127,000. Hedge funds and other institutional investors own 84.83% of the company’s stock.
eBay Company Profile
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.
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