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

eBay Inc. (NASDAQ:EBAY) reached a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $57.00 to $65.00. Bank of America currently has a neutral rating on the stock. eBay traded as high as $64.99 and last traded at $64.97, with a volume of 1031392 shares changing hands. The stock had previously closed at $63.45.

A number of other equities analysts have also recently commented on the company. Morgan Stanley lifted their price target on eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Piper Sandler reiterated an “overweight” rating and set a $64.00 target price (up from $58.00) on shares of eBay in a research note on Thursday, August 1st. Benchmark increased their price target on eBay from $58.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Wolfe Research initiated coverage on shares of eBay in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Jefferies Financial Group increased their price objective on shares of eBay from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, eBay presently has an average rating of “Hold” and a consensus price target of $57.29.

Insider Activity

In other eBay news, SVP Cornelius Boone sold 3,974 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction 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 filing with the Securities & Exchange Commission, which is available at this link. In other eBay news, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the completion of the sale, the senior vice president now directly owns 70,113 shares in the company, valued at $4,530,000.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction on Monday, September 16th. The shares were 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 approximately $4,494,918.12. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EBAY. Vanguard Group Inc. increased its position in eBay by 7.7% during the 1st quarter. Vanguard Group Inc. now owns 62,929,188 shares of the e-commerce company’s stock worth $3,321,403,000 after purchasing an additional 4,524,934 shares in the last quarter. Ameriprise Financial Inc. raised its position in eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock valued at $1,394,797,000 after purchasing an additional 3,880,649 shares during the last quarter. Mirova US LLC boosted its position in eBay by 2.1% during the 2nd quarter. Mirova US LLC now owns 9,170,829 shares of the e-commerce company’s stock worth $492,657,000 after buying an additional 189,505 shares during the period. Victory Capital Management Inc. grew its holdings in eBay by 12.5% during the 2nd 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 position in eBay by 8.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,723,503 shares of the e-commerce company’s stock valued at $361,159,000 after acquiring an additional 530,941 shares during the period. Institutional investors own 87.48% of the company’s stock.

eBay Trading Up 2.8 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $32.73 billion, a price-to-earnings ratio of 12.95, a price-to-earnings-growth ratio of 2.35 and a beta of 1.32. The business’s fifty day moving average price is $57.78 and its 200 day moving average price is $54.19.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.53 billion. Research analysts anticipate that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Friday, August 30th. eBay’s payout ratio is presently 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.