eBay (NASDAQ:EBAY) Given New $55.00 Price Target at Wells Fargo & Company

eBay (NASDAQ:EBAY) had its target price decreased by analysts at Wells Fargo & Company from $57.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price objective would suggest a potential downside of 1.61% from the company’s previous close.

Several other equities research analysts also recently commented on the company. Wolfe Research initiated coverage on eBay in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. began coverage on eBay in a research note on Tuesday, June 25th. They set a “neutral” rating and a $60.00 price objective for the company. Mizuho upped their price objective on 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 target on eBay from $58.00 to $62.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $54.21.

eBay Price Performance

EBAY traded up $0.29 during midday trading on Thursday, hitting $55.90. The stock had a trading volume of 1,060,838 shares, compared to its average volume of 5,701,721. The company has a market cap of $28.06 billion, a P/E ratio of 11.14, a price-to-earnings-growth ratio of 2.54 and a beta of 1.31. The business has a fifty day moving average of $53.62 and a 200 day moving average of $50.03. 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 has a 1 year low of $37.17 and a 1 year high of $56.09.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.20 by $0.05. eBay had a return on equity of 29.11% and a net margin of 25.97%. The firm had revenue of $2.56 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm earned $0.87 EPS. eBay’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that eBay will post 3.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Julie A. Loeger sold 7,419 shares of the business’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $54.20, for a total transaction of $402,109.80. Following the completion of the transaction, the senior vice president now directly owns 70,797 shares of the company’s stock, valued at approximately $3,837,197.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Julie A. Loeger sold 7,419 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $54.20, for a total transaction of $402,109.80. Following the completion of the transaction, the senior vice president now directly owns 70,797 shares of the company’s stock, valued at approximately $3,837,197.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Marie Oh Huber sold 49,070 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $49.63, for a total value of $2,435,344.10. Following the transaction, the senior vice president now directly owns 177,391 shares of the company’s stock, valued at $8,803,915.33. The disclosure for this sale can be found here. Insiders sold 59,558 shares of company stock valued at $3,001,254 in the last three months. 0.38% of the stock is owned by corporate insiders.

Institutional Trading of eBay

Several institutional investors and hedge funds have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the 2nd quarter valued at approximately $26,000. Hobbs Group Advisors LLC acquired a new stake in shares of eBay in the 2nd quarter worth approximately $29,000. Washington Trust Advisors Inc. acquired a new stake in shares of eBay in the 1st quarter worth approximately $30,000. LRI Investments LLC acquired a new stake in eBay during the 1st quarter valued at $29,000. Finally, 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. 87.48% of the stock is owned by hedge funds and other institutional investors.

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.