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

eBay Inc. (NASDAQ:EBAY) shares hit a new 52-week high during trading 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. The stock had previously closed at $66.88.

Several other analysts have also commented on EBAY. Daiwa America raised eBay to a “hold” rating in a report on Wednesday, August 14th. Susquehanna lifted their price objective on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley lifted their target price on eBay from $61.00 to $64.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. initiated coverage on eBay in a research report on Tuesday, June 25th. They set a “neutral” rating and a $60.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on eBay from $60.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. 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 stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.48.

Insider Activity

In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $66.09, for a total value of $371,756.25. Following the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of eBay stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,224 shares of company stock worth $2,600,666 over the last ninety days. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Several large investors have recently made changes to their positions in EBAY. Vanguard Group Inc. increased its stake in eBay by 7.7% during the first quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after acquiring an additional 4,524,934 shares during the last quarter. Ameriprise Financial Inc. increased its stake in eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after acquiring an additional 3,880,649 shares during the last quarter. Mirova US LLC increased its stake in eBay by 2.1% during the second quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock worth $492,657,000 after acquiring an additional 189,505 shares during the last quarter. Victory Capital Management Inc. increased its stake in eBay by 12.5% during the second quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock worth $404,879,000 after acquiring an additional 838,969 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in eBay by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock worth $361,159,000 after acquiring an additional 530,941 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

eBay Stock Performance

The stock has a market cap of $33.63 billion, a P/E ratio of 13.34, a PEG ratio of 2.59 and a beta of 1.32. The business has a 50 day moving average price of $61.33 and a 200 day moving average price of $55.77. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12.

eBay (NASDAQ:EBAY) last released 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. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a return on equity of 29.69% and a net margin of 26.41%. As a group, sell-side analysts expect that eBay Inc. will post 3.86 EPS for the current year.

eBay Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.27 per share. 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 21.51%.

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.