Wells Fargo & Company Issues Pessimistic Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price target dropped by equities research analysts at Wells Fargo & Company from $63.00 to $62.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 6.69% from the stock’s previous close.

EBAY has been the subject of several other research reports. The Goldman Sachs Group upped their price target on shares of eBay from $46.00 to $55.00 and gave the company a “sell” rating in a research report on Tuesday, October 15th. Daiwa America upgraded eBay to a “hold” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised their target price on shares of eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Stifel Nicolaus increased their price objective on shares of eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, JPMorgan Chase & Co. dropped their target price on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.86.

eBay Stock Performance

EBAY stock opened at $58.11 on Friday. The stock has a market capitalization of $28.42 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.95 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. eBay has a 12-month low of $37.17 and a 12-month high of $67.80. The stock’s 50 day simple moving average is $62.99 and its 200 day simple moving average is $56.77.

eBay (NASDAQ:EBAY) last issued its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. eBay had a net margin of 19.68% and a return on equity of 30.15%. As a group, research analysts forecast that eBay will post 3.86 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 1,167 shares of eBay stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $66.09, for a total transaction of $371,756.25. Following the completion of the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephen J. Priest sold 1,167 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares in the company, valued at $4,336,213.77. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 41,391 shares of company stock valued at $2,678,424 over the last ninety days. 0.38% of the stock is owned by insiders.

Institutional Trading of eBay

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

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.