eBay (NASDAQ:EBAY) Hits New 1-Year High Following Analyst Upgrade

eBay Inc. (NASDAQ:EBAY) shares reached a new 52-week high on Tuesday after Bank of America raised their price target on the stock from $57.00 to $65.00. Bank of America currently has a neutral rating on the stock. eBay traded as high as $64.99 and last traded at $64.97, with a volume of 1031392 shares traded. The stock had previously closed at $63.45.

Several other research firms also recently issued reports on EBAY. Susquehanna boosted their price objective on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft lifted their target price on eBay from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered shares of eBay from a “buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group upped their price target on shares of eBay from $38.00 to $46.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Truist Financial increased their price objective on eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $57.29.

Insider Activity at eBay

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the transaction, the senior vice president now owns 70,113 shares in the company, valued at $4,530,000.93. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares in the company, valued at $4,494,918.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. The disclosure for this sale can be found here. 0.38% of the stock is currently owned by insiders.

Hedge Funds Weigh In On eBay

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

eBay Stock Performance

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 company has a market cap of $31.34 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 2.45 and a beta of 1.32. The stock has a 50 day moving average price of $57.98 and a two-hundred day moving average price of $54.29.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.53 billion. eBay had a return on equity of 29.69% and a net margin of 26.41%. Analysts predict that eBay Inc. will post 3.86 EPS for the current year.

eBay Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.68%. The ex-dividend date was Friday, August 30th. eBay’s payout ratio is presently 21.51%.

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.