Bank of America Cuts eBay (NASDAQ:EBAY) Price Target to $71.00

eBay (NASDAQ:EBAY) had its price target reduced by Bank of America from $72.00 to $71.00 in a research report sent to investors on Thursday morning,Benzinga reports. Bank of America currently has a neutral rating on the e-commerce company’s stock.

Several other equities research analysts have also issued reports on EBAY. Wedbush began coverage on eBay in a report on Monday, December 9th. They set a “neutral” rating and a $70.00 price target for the company. Citigroup boosted their target price on shares of eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Mizuho increased their price target on shares of eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. reduced their price objective on shares of eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial increased their target price on shares of eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $65.33.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $63.48 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a 1 year low of $46.98 and a 1 year high of $71.61. The business has a fifty day simple moving average of $66.23 and a 200 day simple moving average of $63.66. The firm has a market cap of $30.41 billion, a price-to-earnings ratio of 15.95, a P/E/G ratio of 2.22 and a beta of 1.35.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.29 per share. This is an increase from eBay’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 14th. This represents a $1.16 annualized dividend and a yield of 1.83%. eBay’s dividend payout ratio is 27.14%.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 5,252 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $63.63, for a total transaction of $334,184.76. Following the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,141,040.40. This represents a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 owns 542,248 shares of the company’s stock, valued at approximately $33,825,430.24. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,149 shares of company stock valued at $1,746,065. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Smithfield Trust Co raised its stake in shares of eBay by 3.6% during the fourth quarter. Smithfield Trust Co now owns 4,411 shares of the e-commerce company’s stock worth $274,000 after buying an additional 153 shares during the last quarter. Cypress Wealth Services LLC raised its position in shares of eBay by 4.7% during the 4th quarter. Cypress Wealth Services LLC now owns 3,488 shares of the e-commerce company’s stock valued at $216,000 after acquiring an additional 157 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of eBay by 7.2% in the 4th quarter. IFP Advisors Inc now owns 2,417 shares of the e-commerce company’s stock valued at $150,000 after purchasing an additional 163 shares during the period. Capital Investment Advisors LLC boosted its position in shares of eBay by 4.1% in the 4th quarter. Capital Investment Advisors LLC now owns 4,226 shares of the e-commerce company’s stock worth $262,000 after purchasing an additional 167 shares during the last quarter. Finally, Bailard Inc. boosted its position in shares of eBay by 0.5% in the 4th quarter. Bailard Inc. now owns 34,651 shares of the e-commerce company’s stock worth $2,147,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 87.48% of the company’s stock.

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.