eBay (NASDAQ:EBAY) Downgraded by StockNews.com

StockNews.com cut shares of eBay (NASDAQ:EBAY) from a buy rating to a hold rating in a research note published on Friday.

EBAY has been the subject of several other research reports. Piper Sandler raised their price objective on shares of eBay from $50.00 to $52.00 and gave the stock an overweight rating in a research report on Wednesday, February 28th. 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, May 2nd. Robert W. Baird increased their price objective on shares of eBay from $50.00 to $57.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Truist Financial raised their target price on eBay from $47.00 to $48.00 and gave the company a hold rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company upped their price target on eBay from $45.00 to $47.00 and gave the stock an equal weight rating in a research note on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Hold and an average target price of $51.45.

eBay Price Performance

eBay stock opened at $49.38 on Friday. The stock’s 50 day moving average is $50.92 and its 200 day moving average is $44.92. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $24.99 billion, a P/E ratio of 9.84, a P/E/G ratio of 1.93 and a beta of 1.31. eBay has a one year low of $37.17 and a one year high of $52.93.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, May 1st. The e-commerce company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.05. The company 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 firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 earnings per share. As a group, research analysts expect that eBay will post 3.75 EPS 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 repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

eBay Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 31st will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, May 30th. eBay’s payout ratio is currently 21.51%.

Insider Transactions at eBay

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

Hedge Funds Weigh In On eBay

Several institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in eBay by 39.8% in 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 purchasing an additional 3,534,030 shares during the last quarter. Nordea Investment Management AB lifted its stake in eBay by 2.7% in 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 purchasing an additional 289,071 shares during the last quarter. Invesco Ltd. lifted its stake in eBay by 16.0% in the third quarter. Invesco Ltd. now owns 8,182,095 shares of the e-commerce company’s stock valued at $360,749,000 after purchasing an additional 1,130,089 shares during the last quarter. Northern Trust Corp lifted its stake in eBay by 3.1% in the third quarter. Northern Trust Corp now owns 6,979,291 shares of the e-commerce company’s stock valued at $307,717,000 after purchasing an additional 209,695 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in eBay by 22.3% in the fourth 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 last quarter. Hedge funds and other institutional investors own 87.48% of the company’s stock.

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.