Wedbush Predicts eBay’s FY2024 Earnings (NASDAQ:EBAY)

eBay Inc. (NASDAQ:EBAY) – Investment analysts at Wedbush issued their FY2024 earnings estimates for shares of eBay in a report issued on Monday, December 9th. Wedbush analyst S. Devitt expects that the e-commerce company will post earnings per share of $3.84 for the year. Wedbush has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for eBay’s current full-year earnings is $3.87 per share. Wedbush also issued estimates for eBay’s Q4 2024 earnings at $0.95 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $4.31 EPS.

Other analysts also recently issued research reports about the stock. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a report on Monday, November 11th. Piper Sandler boosted their price target on shares of eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Citigroup boosted their price target on shares of eBay from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Bank of America reduced their price target on shares of eBay from $67.00 to $64.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $62.63.

eBay Stock Up 1.2 %

Shares of NASDAQ EBAY opened at $63.90 on Wednesday. The company has a 50 day simple moving average of $63.45 and a 200-day simple moving average of $59.00. The company has a market capitalization of $30.61 billion, a P/E ratio of 16.02, a P/E/G ratio of 1.67 and a beta of 1.35. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay has a 1 year low of $40.16 and a 1 year high of $67.80.

Institutional Trading of eBay

A number of large investors have recently bought and sold shares of the business. Tortoise Investment Management LLC raised its holdings in shares of eBay by 894.2% in the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 465 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of eBay in the second quarter valued at $29,000. Gradient Investments LLC grew its stake in shares of eBay by 86.3% in the second quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock valued at $33,000 after buying an additional 284 shares in the last quarter. Quarry LP bought a new position in shares of eBay in the third quarter valued at $36,000. Finally, USA Financial Formulas bought a new position in shares of eBay in the third quarter valued at $38,000. 87.48% of the stock is owned by institutional investors.

Insider Buying and Selling at eBay

In other news, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the sale, the chief financial officer now owns 65,079 shares in the company, valued at approximately $4,336,213.77. The trade was a 1.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $63.21, for a total transaction of $355,556.25. Following 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. Insiders sold 52,641 shares of company stock worth $3,370,974 over the last ninety days. 0.38% of the stock is currently owned by insiders.

eBay Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Friday, November 29th. eBay’s dividend payout ratio is currently 27.14%.

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.