eBay (NASDAQ:EBAY) Price Target Raised to $57.00 at Wells Fargo & Company

eBay (NASDAQ:EBAY) had its price target upped by Wells Fargo & Company from $47.00 to $57.00 in a report published on Tuesday, Benzinga reports. The firm currently has an equal weight rating on the e-commerce company’s stock.

Several other brokerages also recently weighed in on EBAY. BMO Capital Markets increased their target price on eBay from $49.00 to $53.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Deutsche Bank Aktiengesellschaft increased their target price on eBay from $55.00 to $58.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Mizuho increased their target price on eBay from $44.00 to $49.00 and gave the company a neutral rating in a research note on Thursday, May 2nd. Benchmark restated a buy rating and set a $58.00 target price on shares of eBay in a research note on Monday, June 17th. Finally, Morgan Stanley reduced their price objective on eBay from $62.00 to $61.00 and set an overweight rating for the company in a research report on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $53.71.

eBay Stock Performance

EBAY opened at $53.95 on Tuesday. The company has a market cap of $27.08 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 2.49 and a beta of 1.32. The stock has a 50-day moving average of $52.25 and a 200-day moving average of $48.09. eBay has a 52-week low of $37.17 and a 52-week high of $55.35. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99.

eBay (NASDAQ:EBAY) last released its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.05. The company had revenue of $2.56 billion during the quarter, compared to the consensus estimate of $2.53 billion. eBay had a return on equity of 29.11% and a net margin of 25.97%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.87 EPS. As a group, equities research analysts forecast that eBay will post 3.72 earnings per share for the current fiscal year.

eBay announced that its board has authorized a share buyback plan on Tuesday, February 27th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the e-commerce company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

eBay Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.27 per share. The ex-dividend date was Friday, May 31st. This represents a $1.08 dividend on an annualized basis and a yield of 2.00%. eBay’s dividend payout ratio is 21.51%.

Insider Activity at eBay

In related news, CAO Rebecca Spencer sold 2,083 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total transaction of $111,690.46. Following the completion of the sale, the chief accounting officer now directly owns 4,109 shares of the company’s stock, valued at approximately $220,324.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other eBay news, CAO Rebecca Spencer sold 2,083 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $53.62, for a total value of $111,690.46. Following the transaction, the chief accounting officer now directly owns 4,109 shares in the company, valued at approximately $220,324.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julie A. Loeger sold 7,419 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $54.20, for a total value of $402,109.80. Following the completion of the transaction, the senior vice president now owns 70,797 shares in the company, valued at $3,837,197.40. The disclosure for this sale can be found here. Insiders sold 59,558 shares of company stock valued at $3,001,254 in the last three months. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of EBAY. LPL Financial LLC boosted its position in shares of eBay by 4.3% in the 3rd quarter. LPL Financial LLC now owns 168,931 shares of the e-commerce company’s stock worth $7,448,000 after purchasing an additional 7,011 shares during the last quarter. Cary Street Partners Investment Advisory LLC boosted its position in shares of eBay by 21.6% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 5,772 shares of the e-commerce company’s stock worth $254,000 after purchasing an additional 1,024 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of eBay by 44.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 8,563 shares of the e-commerce company’s stock worth $378,000 after purchasing an additional 2,650 shares during the last quarter. Treasurer of the State of North Carolina boosted its position in shares of eBay by 0.4% in the 3rd quarter. Treasurer of the State of North Carolina now owns 256,906 shares of the e-commerce company’s stock worth $11,327,000 after purchasing an additional 917 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of eBay by 97.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 29,604 shares of the e-commerce company’s stock worth $1,305,000 after purchasing an additional 14,609 shares during the last quarter. 87.48% of the stock is currently owned by 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.