eBay (NASDAQ:EBAY) Hits New 52-Week High After Analyst Upgrade

eBay Inc. (NASDAQ:EBAY) hit a new 52-week high on Tuesday after The Goldman Sachs Group raised their price target on the stock from $46.00 to $55.00. The Goldman Sachs Group currently has a sell rating on the stock. eBay traded as high as $67.80 and last traded at $67.47, with a volume of 863121 shares trading hands. The stock had previously closed at $66.88.

Other equities analysts have also recently issued reports about the company. Evercore ISI lifted their price target on eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Piper Sandler reiterated an “overweight” rating and issued a $64.00 price target (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. Daiwa America upgraded eBay to a “hold” rating in a research report on Wednesday, August 14th. Morgan Stanley lifted their price target on eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Wolfe Research began coverage on eBay in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $58.48.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the completion of the sale, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the completion of the sale, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen J. Priest sold 25,000 shares of the company’s 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 transaction, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,224 shares of company stock valued at $2,600,666. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

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

eBay Stock Performance

The company has a 50 day moving average of $61.33 and a two-hundred day moving average of $55.77. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $33.63 billion, a PE ratio of 13.34, a PEG ratio of 2.59 and a beta of 1.32.

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

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.27 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.61%. eBay’s dividend payout ratio is currently 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.