Morgan Stanley Cuts eBay (NASDAQ:EBAY) Price Target to $61.00

eBay (NASDAQ:EBAY) had its price target lowered by stock analysts at Morgan Stanley from $62.00 to $61.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s target price points to a potential upside of 22.86% from the company’s current price.

EBAY has been the subject of several other reports. Susquehanna raised their price target on eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, February 29th. Piper Sandler lifted their target price on eBay from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, February 28th. BMO Capital Markets raised their price objective on shares of eBay from $49.00 to $53.00 and gave the company a “market perform” rating in a research note on Wednesday, February 28th. StockNews.com upgraded shares of eBay from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Finally, Wells Fargo & Company increased their target price on shares of eBay from $45.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.35.

eBay Trading Up 0.5 %

Shares of NASDAQ EBAY traded up $0.26 during mid-day trading on Thursday, reaching $49.65. 6,896,723 shares of the company’s stock were exchanged, compared to its average volume of 5,298,042. 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. eBay has a 52-week low of $37.17 and a 52-week high of $52.93. The company’s 50-day moving average is $50.70 and its 200-day moving average is $44.77. 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 announced its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. eBay had a net margin of 25.97% and a return on equity of 29.11%. The business had revenue of $2.56 billion during the quarter, compared to analysts’ expectations of $2.53 billion. During the same period last year, the business earned $0.87 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that eBay will post 3.75 EPS for the current fiscal year.

eBay declared that its Board of Directors has authorized a share buyback program on Tuesday, February 27th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the e-commerce company to buy up to 8.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Investors Weigh In On eBay

Institutional investors and hedge funds have recently modified their holdings of the company. CVA Family Office LLC acquired a new stake in shares of eBay in the fourth quarter valued at approximately $25,000. American National Bank grew its holdings in eBay by 200.0% during the 1st quarter. American National Bank now owns 600 shares of the e-commerce company’s stock valued at $32,000 after buying an additional 400 shares during the last quarter. Jones Financial Companies Lllp increased its position in eBay by 73.5% during the fourth quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock worth $32,000 after buying an additional 310 shares in the last quarter. Riverview Trust Co acquired a new position in shares of eBay in the first quarter worth $48,000. Finally, First Command Advisory Services Inc. acquired a new position in shares of eBay in the third quarter worth $46,000. 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.