Cantor Fitzgerald Reaffirms Neutral Rating for eBay (NASDAQ:EBAY)

eBay (NASDAQ:EBAY)‘s stock had its “neutral” rating reaffirmed by research analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They currently have a $62.00 price objective on the e-commerce company’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 2.84% from the stock’s previous close.

A number of other research analysts have also recently commented on EBAY. Susquehanna raised their price target on eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on shares of eBay in a research report on Tuesday, June 25th. They issued a “neutral” rating and a $60.00 target price for the company. Piper Sandler reiterated an “overweight” rating and set a $64.00 price target (up previously from $58.00) on shares of eBay in a research report on Thursday, August 1st. Evercore ISI lifted their price objective on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group upped their target price on eBay from $38.00 to $46.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, eBay currently has an average rating of “Hold” and an average target price of $56.90.

eBay Stock Performance

eBay stock traded up $1.09 during midday trading on Monday, hitting $63.81. The company’s stock had a trading volume of 893,833 shares, compared to its average volume of 5,585,159. The company has a 50-day moving average price of $57.58 and a two-hundred day moving average price of $54.10. eBay has a 1-year low of $37.17 and a 1-year high of $64.96. The company has a market cap of $32.03 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 2.35 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25.

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

Insider Buying and Selling

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the sale, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The disclosure for this sale can be found here. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On eBay

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of eBay in the 4th quarter valued at about $53,019,000. Assetmark Inc. lifted its stake in eBay by 54.3% in the fourth quarter. Assetmark Inc. now owns 17,774 shares of the e-commerce company’s stock valued at $775,000 after buying an additional 6,258 shares during the period. Nomura Asset Management Co. Ltd. grew its position in shares of eBay by 1.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 234,235 shares of the e-commerce company’s stock worth $10,217,000 after buying an additional 3,280 shares during the period. United Services Automobile Association increased its stake in shares of eBay by 22.3% in the 4th quarter. United Services Automobile Association now owns 14,403 shares of the e-commerce company’s stock valued at $628,000 after acquiring an additional 2,622 shares in the last quarter. Finally, Stifel Financial Corp lifted its position in shares of eBay by 2.4% during the 4th quarter. Stifel Financial Corp now owns 962,160 shares of the e-commerce company’s stock valued at $41,970,000 after acquiring an additional 22,337 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

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.