Citigroup Increases eBay (NASDAQ:EBAY) Price Target to $65.00

eBay (NASDAQ:EBAY) had its price target lifted by Citigroup from $64.00 to $65.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the e-commerce company’s stock.

A number of other equities research analysts also recently commented on EBAY. Wells Fargo & Company dropped their price objective on eBay from $57.00 to $55.00 and set an equal weight rating for the company in a report on Thursday. Wolfe Research initiated coverage on eBay in a research report on Tuesday, July 16th. They set a peer perform rating for the company. Robert W. Baird increased their price target on eBay from $58.00 to $62.00 and gave the company an outperform rating in a research report on Thursday. JPMorgan Chase & Co. initiated coverage on eBay in a research report on Tuesday, June 25th. They set a neutral rating and a $60.00 price target for the company. Finally, Benchmark reiterated a buy rating and set a $58.00 target price on shares of eBay in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, eBay currently has an average rating of Hold and a consensus price target of $55.85.

eBay Stock Performance

Shares of NASDAQ:EBAY traded down $0.10 during trading on Thursday, hitting $56.13. 1,993,295 shares of the stock were exchanged, compared to its average volume of 5,722,719. eBay has a 1-year low of $37.17 and a 1-year high of $57.68. The company has a market capitalization of $28.18 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 2.55 and a beta of 1.31. The company’s fifty day simple moving average is $53.69 and its 200-day simple moving average is $50.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.99 and a current ratio of 1.99.

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 28.89% and a net margin of 26.41%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. Sell-side analysts expect that eBay will post 3.73 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.27 per share. The ex-dividend date is Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.92%. eBay’s dividend payout ratio (DPR) is currently 21.51%.

Insider Buying and Selling at eBay

In other news, SVP Edward O. Garcia sold 986 shares of the business’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total value of $52,110.10. Following the transaction, the senior vice president now owns 37,126 shares in the company, valued at approximately $1,962,109.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other eBay news, CAO Rebecca Spencer sold 2,083 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $53.62, for a total transaction of $111,690.46. Following the sale, the chief accounting officer now owns 4,109 shares of the company’s stock, valued at approximately $220,324.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Edward O. Garcia sold 986 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $52.85, for a total transaction of $52,110.10. Following the completion of the transaction, the senior vice president now directly owns 37,126 shares in the company, valued at approximately $1,962,109.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,488 shares of company stock worth $565,910. Insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EBAY. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of eBay during the second quarter valued at about $26,000. Tortoise Investment Management LLC raised its holdings in eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares during the last quarter. LRI Investments LLC bought a new stake in eBay during the 1st quarter valued at $29,000. Hobbs Group Advisors LLC bought a new position in eBay in the 2nd quarter worth $29,000. Finally, Washington Trust Advisors Inc. bought a new position in eBay in the 1st quarter worth $30,000. 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.