Wells Fargo & Company Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price objective raised by research analysts at Wells Fargo & Company from $59.00 to $61.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 8.89% from the stock’s current price.

Other analysts also recently issued reports about the company. Piper Sandler boosted their target price on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Citigroup upped their price objective on shares of eBay from $68.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Bank of America decreased their target price on shares of eBay from $67.00 to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price objective on shares of eBay in a report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $62.92.

eBay Stock Performance

NASDAQ:EBAY opened at $66.95 on Monday. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm’s fifty day simple moving average is $64.51 and its 200-day simple moving average is $62.05. eBay has a fifty-two week low of $40.74 and a fifty-two week high of $71.52. The stock has a market cap of $32.07 billion, a PE ratio of 16.82, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35.

Insider Activity at eBay

In other news, CFO Stephen J. Priest sold 5,252 shares of eBay stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $63.63, for a total transaction of $334,184.76. Following the sale, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. The trade was a 7.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total value of $355,556.25. Following the completion of the transaction, the chief executive officer now owns 531,167 shares in the company, valued at approximately $33,575,066.07. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,524 shares of company stock worth $1,367,784. 0.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On eBay

Hedge funds and other institutional investors have recently bought and sold shares of the business. Private Advisor Group LLC grew its position in shares of eBay by 90.7% during the third quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock worth $2,963,000 after buying an additional 21,636 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in eBay by 2.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock worth $3,489,000 after acquiring an additional 1,063 shares in the last quarter. Prospera Financial Services Inc increased its position in shares of eBay by 794.2% in the 3rd quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock worth $4,598,000 after purchasing an additional 62,719 shares during the last quarter. Trustmark National Bank Trust Department acquired a new stake in shares of eBay in the 3rd quarter valued at about $1,307,000. Finally, Nordea Investment Management AB lifted its position in shares of eBay by 3.8% during the fourth quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after purchasing an additional 335,035 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.