Robert W. Baird Increases eBay (NASDAQ:EBAY) Price Target to $57.00

eBay (NASDAQ:EBAY) had its target price upped by Robert W. Baird from $50.00 to $57.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the e-commerce company’s stock. Robert W. Baird’s price target indicates a potential upside of 14.80% from the stock’s previous close.

A number of other research firms have also recently commented on EBAY. Mizuho raised their price target on shares of eBay from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday. UBS Group boosted their target price on eBay from $46.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. The Goldman Sachs Group initiated coverage on eBay in a report on Wednesday, January 10th. They issued a “sell” rating and a $38.00 price target on the stock. Barclays boosted their price objective on eBay from $55.00 to $61.00 and gave the company an “overweight” rating in a report on Wednesday, February 28th. Finally, Piper Sandler increased their target price on eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $51.35.

eBay Trading Up 0.5 %

Shares of NASDAQ:EBAY traded up $0.26 during midday trading on Thursday, reaching $49.65. The company’s stock had a trading volume of 6,896,723 shares, compared to its average volume of 5,298,042. The firm has a 50 day moving average price of $50.70 and a two-hundred day moving average price of $44.77. eBay has a fifty-two week low of $37.17 and a fifty-two week high of $52.93. The firm has a market capitalization of $25.14 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.96 and a beta of 1.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.44 and a current ratio of 1.99.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.05. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.53 billion. eBay had a return on equity of 29.11% and a net margin of 25.97%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. As a group, analysts forecast that eBay will post 3.75 earnings per share for the current year.

eBay declared 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 buy up to 8.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at eBay

In related news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total transaction of $50,129.95. Following the sale, the senior vice president now directly owns 31,888 shares in the company, valued at approximately $1,372,140.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.21% of the company’s stock.

Institutional Trading of eBay

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. increased its position in shares of eBay by 39.8% during the third quarter. Ameriprise Financial Inc. now owns 12,418,131 shares of the e-commerce company’s stock valued at $547,516,000 after buying an additional 3,534,030 shares during the period. Nordea Investment Management AB grew its stake in eBay by 2.7% during the third quarter. Nordea Investment Management AB now owns 11,167,875 shares of the e-commerce company’s stock valued at $495,407,000 after acquiring an additional 289,071 shares in the last quarter. Invesco Ltd. increased its holdings in eBay by 16.0% during the 3rd quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock worth $360,749,000 after acquiring an additional 1,130,089 shares during the period. Northern Trust Corp lifted its stake in eBay by 3.1% in the 3rd quarter. Northern Trust Corp now owns 6,979,291 shares of the e-commerce company’s stock worth $307,717,000 after purchasing an additional 209,695 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in eBay by 22.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,248,438 shares of the e-commerce company’s stock valued at $272,551,000 after purchasing an additional 1,141,288 shares during the period. 87.48% of the stock is currently owned by institutional investors.

About eBay

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.