eBay (NASDAQ:EBAY) Given New $45.00 Price Target at TD Cowen

eBay (NASDAQ:EBAY) had its target price raised by TD Cowen from $42.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “hold” rating on the e-commerce company’s stock. TD Cowen’s target price indicates a potential downside of 9.02% from the stock’s current price.

Other analysts have also issued research reports about the company. Barclays increased their target price on eBay from $61.00 to $65.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler raised their price objective on eBay from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 28th. Morgan Stanley raised eBay from an “underweight” rating to an “overweight” rating in a research note on Thursday, April 18th. The Goldman Sachs Group assumed coverage on shares of eBay in a report on Wednesday, January 10th. They set a “sell” rating and a $38.00 price target for the company. Finally, Mizuho upped their price objective on shares of eBay from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.35.

eBay Price Performance

NASDAQ EBAY traded down $1.60 on Thursday, reaching $49.46. The company’s stock had a trading volume of 7,399,339 shares, compared to its average volume of 6,402,090. eBay has a twelve month low of $37.17 and a twelve month high of $52.93. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44. The stock has a market cap of $25.05 billion, a PE ratio of 9.50, a PEG ratio of 2.05 and a beta of 1.31. The firm’s 50 day moving average is $50.60 and its two-hundred day moving average is $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, topping the consensus estimate of $1.20 by $0.05. eBay had a net margin of 27.36% and a return on equity of 29.16%. The company had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts predict that eBay will post 3.75 EPS for the current year.

eBay announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, February 27th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the e-commerce company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at eBay

In related news, SVP Edward O. Garcia sold 1,165 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the completion of the sale, 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 filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by corporate insiders.

Institutional Trading of eBay

Hedge funds have recently added to or reduced their stakes in the business. Tempus Wealth Planning LLC raised its position in shares of eBay by 3.1% during the first quarter. Tempus Wealth Planning LLC now owns 8,539 shares of the e-commerce company’s stock worth $451,000 after purchasing an additional 254 shares during the period. GHE LLC lifted its position in eBay by 1.5% in the 4th quarter. GHE LLC now owns 17,480 shares of the e-commerce company’s stock valued at $762,000 after acquiring an additional 260 shares in the last quarter. Savant Capital LLC boosted its stake in eBay by 2.3% in the 4th quarter. Savant Capital LLC now owns 11,411 shares of the e-commerce company’s stock worth $498,000 after purchasing an additional 262 shares during the period. Affinity Investment Advisors LLC increased its holdings in eBay by 3.0% during the 4th quarter. Affinity Investment Advisors LLC now owns 9,494 shares of the e-commerce company’s stock worth $414,000 after purchasing an additional 275 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of eBay by 10.5% in the 4th quarter. Quent Capital LLC now owns 2,971 shares of the e-commerce company’s stock valued at $130,000 after purchasing an additional 282 shares during the period. 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.