Wedbush Comments on eBay’s FY2024 Earnings (NASDAQ:EBAY)

eBay Inc. (NASDAQ:EBAY) – Equities researchers at Wedbush issued their FY2024 earnings per share (EPS) estimates for shares of eBay in a research report issued to clients and investors on Monday, December 9th. Wedbush analyst S. Devitt forecasts that the e-commerce company will post earnings of $3.84 per share for the year. Wedbush has a “Neutral” rating and a $70.00 price objective on the stock. The consensus estimate for eBay’s current full-year earnings is $3.87 per share. Wedbush also issued estimates for eBay’s Q4 2024 earnings at $0.95 EPS, Q2 2025 earnings at $1.06 EPS, Q3 2025 earnings at $1.05 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $4.31 EPS.

Other equities research analysts have also recently issued reports about the company. JPMorgan Chase & Co. cut their target price on eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group increased their target price on shares of eBay from $46.00 to $55.00 and gave the stock a “sell” rating in a report on Tuesday, October 15th. Sanford C. Bernstein raised shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price objective for the company in a research note on Tuesday, November 5th. Stifel Nicolaus boosted their target price on shares of eBay from $56.00 to $64.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Morgan Stanley increased their price target on eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $62.63.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $63.23 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $30.29 billion, a PE ratio of 15.89, a PEG ratio of 1.67 and a beta of 1.35. The firm has a 50 day moving average of $63.54 and a 200-day moving average of $58.91. eBay has a 12 month low of $40.16 and a 12 month high of $67.80.

Hedge Funds Weigh In On eBay

Large investors have recently made changes to their positions in the stock. Tortoise Investment Management LLC lifted its holdings in eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock worth $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of eBay in the second quarter valued at approximately $29,000. Quarry LP purchased a new stake in eBay in the 3rd quarter worth approximately $36,000. USA Financial Formulas bought a new position in eBay in the 3rd quarter valued at $38,000. Finally, Gradient Investments LLC grew its position in shares of eBay by 86.3% during the 2nd quarter. Gradient Investments LLC now owns 613 shares of the e-commerce company’s stock valued at $33,000 after purchasing an additional 284 shares in the last quarter. 87.48% of the stock is owned by institutional investors.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 5.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $59.91, for a total transaction of $336,993.75. Following the transaction, the chief executive officer now owns 548,042 shares of the company’s stock, valued at $32,833,196.22. This represents a 1.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,641 shares of company stock worth $3,370,974. Insiders own 0.38% of the company’s stock.

eBay Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.71%. eBay’s dividend payout ratio (DPR) is presently 27.14%.

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.