Citigroup Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its target price upped by investment analysts at Citigroup from $65.00 to $68.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce company’s stock. Citigroup’s target price would indicate a potential upside of 18.24% from the company’s previous close.

Several other research analysts have also recently issued reports on EBAY. The Goldman Sachs Group raised their target price on eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a research report on Tuesday, October 15th. Stifel Nicolaus lifted their price objective on eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday. Wells Fargo & Company boosted their price target on eBay from $55.00 to $63.00 and gave the stock an “equal weight” rating in a report on Thursday, October 3rd. Barclays lowered their price target on eBay from $65.00 to $64.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Piper Sandler boosted their price target on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, eBay has a consensus rating of “Hold” and a consensus price target of $62.05.

eBay Stock Performance

NASDAQ:EBAY traded down $5.12 on Thursday, hitting $57.51. The stock had a trading volume of 10,390,007 shares, compared to its average volume of 5,447,162. The stock has a market cap of $28.87 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12. The business’s 50-day simple moving average is $63.03 and its two-hundred day simple moving average is $56.67. eBay has a 52-week low of $37.17 and a 52-week high of $67.80.

eBay (NASDAQ:EBAY) last announced its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. The business 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%. As a group, research analysts predict that eBay will post 3.86 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 1,167 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares in the company, valued at $4,336,213.77. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In other eBay news, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at approximately $4,336,213.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,391 shares of company stock worth $2,678,424 in the last three months. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On eBay

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of eBay by 7.7% in the first 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 during the last quarter. Ameriprise Financial Inc. raised its stake in shares of eBay by 17.6% in the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company’s stock worth $1,394,797,000 after purchasing an additional 3,880,649 shares during the last quarter. M&G Plc purchased a new position in shares of eBay in the first quarter worth about $97,557,000. Swedbank AB purchased a new position in shares of eBay in the first quarter worth about $73,777,000. Finally, Altshuler Shaham Ltd purchased a new position in shares of eBay in the second quarter worth about $71,593,000. 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.