eBay (EBAY) Price Target Cut to $31.00

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eBay (NASDAQ:EBAY) had its target price reduced by investment analysts at Royal Bank of Canada from $34.00 to $31.00 in a research report issued on Wednesday. The brokerage currently has a “sector perform” rating on the e-commerce company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 10.48% from the company’s current price.

A number of other research analysts have also recently commented on EBAY. SunTrust Banks cut shares of eBay from a “buy” rating to a “hold” rating and set a $40.00 price target on the stock. in a research report on Tuesday, July 10th. Bank of America reduced their price target on shares of eBay from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, July 13th. Credit Suisse Group reduced their price target on shares of eBay from $60.00 to $58.00 and set an “outperform” rating on the stock in a research report on Monday, July 16th. BidaskClub upgraded shares of eBay from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Finally, Guggenheim restated a “$37.95” rating on shares of eBay in a report on Wednesday, July 18th. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $41.63.

NASDAQ EBAY traded up $0.64 on Wednesday, reaching $28.06. 261,839 shares of the company’s stock traded hands, compared to its average volume of 13,699,990. eBay has a 12 month low of $26.36 and a 12 month high of $46.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.37 and a quick ratio of 2.37. The stock has a market capitalization of $27.05 billion, a P/E ratio of 17.19, a PEG ratio of 1.65 and a beta of 1.19.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Tuesday, October 30th. The e-commerce company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. eBay had a negative net margin of 10.05% and a positive return on equity of 20.57%. The business had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.65 billion. During the same period last year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that eBay will post 1.82 earnings per share for the current fiscal year.

In other eBay news, VP Brian J. Doerger sold 4,811 shares of the firm’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $34.05, for a total transaction of $163,814.55. Following the completion of the transaction, the vice president now owns 34,644 shares of the company’s stock, valued at $1,179,628.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jae Hyun Lee sold 26,204 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $35.08, for a total value of $919,236.32. Following the transaction, the senior vice president now directly owns 128,457 shares of the company’s stock, valued at approximately $4,506,271.56. The disclosure for this sale can be found here. Insiders sold 127,642 shares of company stock valued at $4,364,399 in the last ninety days. 6.22% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in EBAY. Suntrust Banks Inc. lifted its position in eBay by 21.0% during the first quarter. Suntrust Banks Inc. now owns 35,504 shares of the e-commerce company’s stock valued at $1,427,000 after buying an additional 6,161 shares during the period. CenturyLink Investment Management Co purchased a new position in eBay during the second quarter valued at $1,164,000. DnB Asset Management AS purchased a new position in eBay during the second quarter valued at $9,313,000. IFM Investors Pty Ltd lifted its position in eBay by 42.9% during the second quarter. IFM Investors Pty Ltd now owns 43,997 shares of the e-commerce company’s stock valued at $1,595,000 after buying an additional 13,205 shares during the period. Finally, CENTRAL TRUST Co lifted its position in eBay by 43.7% during the second quarter. CENTRAL TRUST Co now owns 16,197 shares of the e-commerce company’s stock valued at $588,000 after buying an additional 4,925 shares during the period. 84.50% of the stock is owned by institutional investors and hedge funds.

About eBay

eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

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