eBay’s (EBAY) Buy Rating Reaffirmed at Needham & Company LLC

eBay (NASDAQ:EBAY)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $72.00 target price on the e-commerce company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 4.14% from the company’s previous close.

EBAY has been the topic of several other reports. Morgan Stanley raised their price target on shares of eBay from $70.00 to $72.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Truist Financial raised their target price on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of eBay from $58.00 to $60.00 and gave the company a “neutral” rating in a research report on Thursday. Wedbush began coverage on shares of eBay in a research report on Monday, December 9th. They set a “neutral” rating and a $70.00 price objective for the company. Finally, JMP Securities reiterated a “market perform” rating on shares of eBay in a report on Monday, December 16th. Two equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.21.

eBay Price Performance

NASDAQ:EBAY opened at $69.14 on Thursday. The firm has a market cap of $33.12 billion, a P/E ratio of 17.37, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. The stock has a 50 day moving average of $66.24 and a two-hundred day moving average of $63.67. eBay has a 12 month low of $46.53 and a 12 month high of $71.61. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14.

Insider Activity

In other eBay news, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total value of $350,887.50. Following the completion of the transaction, the chief executive officer now owns 542,248 shares in the company, valued at $33,825,430.24. This represents a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Cornelius Boone sold 3,989 shares of eBay stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now directly owns 71,469 shares in the company, valued at approximately $4,659,778.80. This trade represents a 5.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,149 shares of company stock worth $1,746,065. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

A number of hedge funds and other institutional investors have recently bought and sold shares of EBAY. Golden State Wealth Management LLC acquired a new stake in shares of eBay in the 4th quarter worth $27,000. Orion Capital Management LLC purchased a new stake in eBay in the 4th quarter valued at approximately $27,000. Pinney & Scofield Inc. purchased a new stake in eBay in the 4th quarter valued at approximately $31,000. Itau Unibanco Holding S.A. acquired a new position in eBay during the 4th quarter worth approximately $33,000. Finally, Quarry LP purchased a new position in shares of eBay during the 3rd quarter worth approximately $36,000. 87.48% of the stock is currently 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.