eBay (NASDAQ:EBAY) Given New $71.00 Price Target at Morgan Stanley

eBay (NASDAQ:EBAY) had its price target hoisted by Morgan Stanley from $65.00 to $71.00 in a research note released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the e-commerce company’s stock.

EBAY has been the topic of several other reports. Bank of America boosted their target price on shares of eBay from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Tuesday, September 24th. Citigroup boosted their target price on shares of eBay from $64.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Susquehanna boosted their target price on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on shares of eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Evercore ISI upped their price target on shares of eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $62.14.

eBay Price Performance

NASDAQ EBAY opened at $63.10 on Friday. The stock has a market capitalization of $30.86 billion, a P/E ratio of 12.25, a P/E/G ratio of 2.45 and a beta of 1.32. eBay has a 1 year low of $37.17 and a 1 year high of $67.80. The business’s fifty day moving average is $62.71 and its two-hundred day moving average is $56.44. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.88. The company 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%. On average, research analysts forecast that eBay will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $4,530,000.93. This trade represents 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 related news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction dated Tuesday, September 17th. The stock was 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 of the company’s stock, valued at $4,530,000.93. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 in the company, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,391 shares of company stock valued at $2,678,424. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On eBay

A number of institutional investors have recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in eBay by 0.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 52,494 shares of the e-commerce company’s stock worth $3,418,000 after buying an additional 153 shares in the last quarter. Davis Investment Partners LLC lifted its stake in eBay by 0.8% during the third quarter. Davis Investment Partners LLC now owns 23,475 shares of the e-commerce company’s stock worth $1,531,000 after purchasing an additional 180 shares during the period. Quent Capital LLC lifted its stake in eBay by 6.8% during the first quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock worth $167,000 after purchasing an additional 202 shares during the period. Checchi Capital Advisers LLC lifted its stake in eBay by 3.0% during the second quarter. Checchi Capital Advisers LLC now owns 7,547 shares of the e-commerce company’s stock worth $405,000 after purchasing an additional 219 shares during the period. Finally, Harrington Investments INC lifted its stake in eBay by 0.6% during the third quarter. Harrington Investments INC now owns 37,385 shares of the e-commerce company’s stock worth $2,434,000 after purchasing an additional 232 shares during the period. 87.48% of the stock is owned by institutional investors and hedge funds.

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.