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

eBay (NASDAQ:EBAY) had its target price dropped by equities researchers at Wells Fargo & Company from $57.00 to $55.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s target price suggests a potential downside of 1.61% from the company’s previous close.

EBAY has been the topic of a number of other research reports. Jefferies Financial Group upped their target price on eBay from $50.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft upped their price objective on eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wolfe Research began coverage on eBay in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Mizuho upped their price objective on eBay from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, Morgan Stanley upped their price objective on eBay from $61.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $54.21.

eBay Stock Performance

NASDAQ EBAY traded up $0.29 during trading hours on Thursday, reaching $55.90. The stock had a trading volume of 1,060,838 shares, compared to its average volume of 5,701,721. The stock has a fifty day moving average of $53.62 and a 200 day moving average of $50.03. The stock 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. eBay has a 52-week low of $37.17 and a 52-week high of $56.09. 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 (NASDAQ:EBAY) last issued its earnings results on Wednesday, May 1st. The e-commerce company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.05. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.53 billion. eBay had a return on equity of 29.11% and a net margin of 25.97%. eBay’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. Sell-side analysts predict that eBay will post 3.73 earnings per share for the current year.

Insider Activity at eBay

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

Hedge Funds Weigh In On eBay

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Quent Capital LLC boosted its holdings in eBay by 6.8% during the 1st quarter. Quent Capital LLC now owns 3,173 shares of the e-commerce company’s stock valued at $167,000 after acquiring an additional 202 shares during the period. Checchi Capital Advisers LLC boosted its holdings in eBay by 3.0% during the 2nd quarter. Checchi Capital Advisers LLC now owns 7,547 shares of the e-commerce company’s stock valued at $405,000 after acquiring an additional 219 shares during the period. Banco Santander S.A. boosted its stake in shares of eBay by 2.1% in the 1st quarter. Banco Santander S.A. now owns 11,530 shares of the e-commerce company’s stock valued at $609,000 after buying an additional 236 shares during the period. Tempus Wealth Planning LLC boosted its stake in shares of eBay by 3.1% in the 1st quarter. Tempus Wealth Planning LLC now owns 8,539 shares of the e-commerce company’s stock valued at $451,000 after buying an additional 254 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of eBay by 41.2% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 884 shares of the e-commerce company’s stock valued at $47,000 after buying an additional 258 shares during the period. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

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.