Wells Fargo & Company Boosts eBay (NASDAQ:EBAY) Price Target to $63.00

eBay (NASDAQ:EBAY) had its price target raised by research analysts at Wells Fargo & Company from $55.00 to $63.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 3.27% from the stock’s current price.

Several other research firms have also recently issued reports on EBAY. The Goldman Sachs Group raised 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. Cantor Fitzgerald reissued a “neutral” rating and set a $62.00 target price on shares of eBay in a research note on Monday. Bank of America raised their target price on eBay from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. Truist Financial lifted their price objective on eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research note on Tuesday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective (up from $58.00) on shares of eBay in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $57.67.

eBay Price Performance

Shares of NASDAQ EBAY traded down $0.07 during midday trading on Thursday, hitting $65.13. The stock had a trading volume of 1,242,841 shares, compared to its average volume of 5,557,313. The company has a market capitalization of $32.70 billion, a PE ratio of 12.98, a P/E/G ratio of 2.45 and a beta of 1.32. The stock has a 50 day simple moving average of $59.28 and a 200-day simple moving average of $54.81. eBay has a 1 year low of $37.17 and a 1 year high of $66.23. 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 posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, meeting 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 during the quarter, compared to analysts’ expectations of $2.53 billion. On average, sell-side analysts expect that eBay will post 3.86 EPS for the current fiscal year.

Insider Buying and Selling

In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other eBay news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now directly owns 70,113 shares in the company, valued at approximately $4,530,000.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the business’s stock in a transaction on Monday, September 16th. The shares were 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 in the company, valued at $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 institutional investors and hedge funds have recently modified their holdings of EBAY. Czech National Bank boosted its holdings in eBay by 3.3% in the third quarter. Czech National Bank now owns 99,614 shares of the e-commerce company’s stock worth $6,486,000 after purchasing an additional 3,190 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in eBay by 52.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,345 shares of the e-commerce company’s stock worth $88,000 after acquiring an additional 461 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of eBay by 35.7% during the second quarter. Centaurus Financial Inc. now owns 7,434 shares of the e-commerce company’s stock valued at $399,000 after buying an additional 1,955 shares during the last quarter. Clifford Capital Partners LLC raised its position in shares of eBay by 21.3% during the second quarter. Clifford Capital Partners LLC now owns 320,832 shares of the e-commerce company’s stock valued at $17,235,000 after buying an additional 56,254 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of eBay during the second quarter valued at about $1,580,000. 87.48% of the stock is currently owned by hedge funds and other 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.