eBay – Jefferies Financial Group Initiates Coverage on eBay (NASDAQ:EBAY)

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Research analysts at Jefferies Financial Group started coverage on shares of eBay (NASDAQ:EBAY) in a research note issued on Thursday, TipRanks reports. The firm set a “hold” rating and a $83.00 price target on the e-commerce company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 12.80% from the company’s current price.

A number of other analysts have also commented on the company. Mizuho boosted their target price on eBay from $63.00 to $65.00 and gave the company a “neutral” rating in a research report on Thursday, August 12th. Bank of America boosted their price objective on eBay from $70.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, August 26th. Piper Sandler increased their target price on eBay from $79.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 27th. Robert W. Baird boosted their price target on shares of eBay from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 12th. Finally, Barclays lifted their price objective on shares of eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, August 12th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $72.59.

Shares of eBay stock traded down $0.35 on Thursday, reaching $73.58. 134,926 shares of the company’s stock were exchanged, compared to its average volume of 7,491,951. The company has a market capitalization of $47.83 billion, a P/E ratio of 3.92, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. eBay has a 52 week low of $45.36 and a 52 week high of $77.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.96 and a current ratio of 3.96. The firm’s 50-day moving average is $71.44 and its two-hundred day moving average is $64.81.

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eBay (NASDAQ:EBAY) last issued its earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.16. eBay had a net margin of 115.40% and a return on equity of 38.34%. The business had revenue of $2.67 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm earned $1.02 earnings per share. On average, analysts expect that eBay will post 3.24 EPS for the current fiscal year.

eBay declared that its board has authorized a share buyback plan on Wednesday, August 11th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the e-commerce company to repurchase up to 6.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

In other news, CAO Brian J. Doerger sold 2,862 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $77.69, for a total transaction of $222,348.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert Holmes Swan sold 40,000 shares of the company’s stock in a transaction dated Thursday, August 19th. The shares were sold at an average price of $73.15, for a total transaction of $2,926,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,460 shares of company stock valued at $5,844,236 over the last three months. Insiders own 0.21% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. IronBridge Private Wealth LLC grew its holdings in eBay by 5.5% during the 2nd quarter. IronBridge Private Wealth LLC now owns 74,850 shares of the e-commerce company’s stock valued at $5,255,000 after buying an additional 3,899 shares in the last quarter. Sawtooth Solutions LLC boosted its position in shares of eBay by 25.8% in the second quarter. Sawtooth Solutions LLC now owns 19,609 shares of the e-commerce company’s stock valued at $1,377,000 after acquiring an additional 4,022 shares during the period. B. Metzler seel. Sohn & Co. Holding AG grew its stake in eBay by 19.0% during the second quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 148,131 shares of the e-commerce company’s stock valued at $10,401,000 after acquiring an additional 23,617 shares in the last quarter. Mariner LLC increased its holdings in eBay by 1.1% during the 2nd quarter. Mariner LLC now owns 28,585 shares of the e-commerce company’s stock worth $2,007,000 after acquiring an additional 321 shares during the period. Finally, Morgan Stanley lifted its stake in eBay by 7.1% in the 2nd quarter. Morgan Stanley now owns 2,986,389 shares of the e-commerce company’s stock worth $209,673,000 after purchasing an additional 197,158 shares in the last quarter. Institutional investors own 90.78% of the company’s stock.

eBay Company Profile

eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.

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