Citigroup Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price objective lifted by Citigroup from $75.00 to $80.00 in a report published on Friday morning,Benzinga reports. Citigroup currently has a buy rating on the e-commerce company’s stock.

Several other analysts have also issued reports on the stock. Wedbush assumed coverage on shares of eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 price target for the company. Morgan Stanley raised their price target on eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price objective on shares of eBay in a research report on Thursday, October 31st. Stifel Nicolaus raised their target price on shares of eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Finally, TD Cowen upped their price target on shares of eBay from $45.00 to $54.00 and gave the company a “hold” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, eBay currently has an average rating of “Hold” and a consensus price target of $63.13.

eBay Trading Up 0.9 %

Shares of EBAY opened at $69.90 on Friday. eBay has a fifty-two week low of $42.14 and a fifty-two week high of $71.52. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 2.15 and a beta of 1.35. The firm has a 50 day moving average price of $65.18 and a 200-day moving average price of $62.73. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.25 and a current ratio of 1.25.

Insiders Place Their Bets

In related news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the sale, the chief executive officer now directly owns 542,248 shares in the company, valued at approximately $33,825,430.24. This trade represents a 1.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total value of $334,184.76. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This trade represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,149 shares of company stock valued at $1,746,065. Insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently modified their holdings of EBAY. Wahed Invest LLC lifted its holdings in eBay by 1.7% in the fourth quarter. Wahed Invest LLC now owns 12,499 shares of the e-commerce company’s stock valued at $774,000 after acquiring an additional 211 shares during the period. Mercer Global Advisors Inc. ADV lifted its stake in shares of eBay by 3.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 68,128 shares of the e-commerce company’s stock worth $4,221,000 after purchasing an additional 2,326 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of eBay in the fourth quarter worth approximately $33,000. Parvin Asset Management LLC bought a new stake in eBay during the fourth quarter valued at approximately $121,000. Finally, Comerica Bank increased its holdings in eBay by 1.2% during the fourth quarter. Comerica Bank now owns 118,504 shares of the e-commerce company’s stock valued at $7,341,000 after buying an additional 1,448 shares during the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Company Profile

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.