eBay (NASDAQ:EBAY) Given New $61.00 Price Target at Morgan Stanley

eBay (NASDAQ:EBAY) had its price objective decreased by analysts at Morgan Stanley from $62.00 to $61.00 in a report released on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s price target indicates a potential upside of 23.33% from the stock’s previous close.

Several other brokerages have also recently issued reports on EBAY. Piper Sandler increased their price objective on eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, February 28th. UBS Group raised their price target on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Benchmark reissued a “buy” rating and set a $58.00 price target on shares of eBay in a report on Thursday. TD Cowen raised their price target on eBay from $42.00 to $45.00 and gave the stock a “hold” rating in a report on Thursday. Finally, The Goldman Sachs Group assumed coverage on eBay in a report on Wednesday, January 10th. They set a “sell” rating and a $38.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.35.

eBay Stock Performance

Shares of EBAY stock traded down $1.60 on Thursday, hitting $49.46. The company had a trading volume of 7,399,339 shares, compared to its average volume of 6,402,090. The firm has a market cap of $25.05 billion, a P/E ratio of 9.50, a price-to-earnings-growth ratio of 2.05 and a beta of 1.31. eBay has a twelve month low of $37.17 and a twelve month high of $52.93. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 1.09. The company has a 50-day moving average price of $50.60 and a 200-day moving average price of $44.74.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a return on equity of 29.16% and a net margin of 27.36%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.87 earnings per share. As a group, equities research analysts predict that eBay will post 3.75 earnings per share for the current fiscal year.

eBay announced that its Board of Directors has authorized a share repurchase program on Tuesday, February 27th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the e-commerce company to repurchase up to 8.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other eBay news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total value of $50,129.95. Following the completion of the transaction, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On eBay

Institutional investors have recently modified their holdings of the stock. CVA Family Office LLC acquired a new stake in eBay during the 4th quarter valued at $25,000. Jones Financial Companies Lllp lifted its position in eBay by 73.5% during the fourth quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock worth $32,000 after acquiring an additional 310 shares during the last quarter. American National Bank lifted its holdings in eBay by 200.0% during the 1st quarter. American National Bank now owns 600 shares of the e-commerce company’s stock worth $32,000 after purchasing an additional 400 shares during the last quarter. First Command Advisory Services Inc. acquired a new position in eBay in the 3rd quarter valued at $46,000. Finally, Riverview Trust Co acquired a new stake in eBay in the 1st quarter worth about $48,000. 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.