eBay (NASDAQ:EBAY) Cut to Hold at BidaskClub

BidaskClub cut shares of eBay (NASDAQ:EBAY) from a buy rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

Several other brokerages have also issued reports on EBAY. JPMorgan Chase & Co. cut their price objective on Teck Resources from C$56.00 to C$55.00 in a report on Wednesday, April 24th. Deutsche Bank increased their target price on shares of Texas Instruments from $100.00 to $110.00 and gave the stock a hold rating in a research report on Wednesday, April 24th. UBS Group increased their target price on shares of W. R. Berkley from $53.00 to $56.00 and gave the stock a sell rating in a research report on Wednesday, April 24th. Morgan Stanley increased their target price on shares of Canadian Pacific Railway from C$272.00 to C$277.00 in a research report on Wednesday, April 24th. Finally, Piper Jaffray Companies downgraded shares of Kraft Heinz from a neutral rating to an underweight rating and lowered their target price for the stock from $35.00 to $31.00 in a research report on Wednesday, April 24th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. eBay presently has an average rating of Hold and an average target price of $39.98.

Shares of NASDAQ:EBAY opened at $40.06 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 1.48. eBay has a 1 year low of $26.01 and a 1 year high of $40.55. The stock’s fifty day moving average price is $38.45. The stock has a market capitalization of $34.91 billion, a price-to-earnings ratio of 17.27, a price-to-earnings-growth ratio of 1.95 and a beta of 1.35.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, April 23rd. The e-commerce company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.04. eBay had a return on equity of 31.26% and a net margin of 24.43%. The business had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company earned $0.53 earnings per share. eBay’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that eBay will post 2.15 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Saturday, June 1st were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Thursday, May 30th. eBay’s payout ratio is presently 24.14%.

In related news, CEO Devin Wenig sold 10,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $39.75, for a total value of $397,500.00. Following the completion of the sale, the chief executive officer now owns 1,039,610 shares in the company, valued at $41,324,497.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian J. Doerger sold 14,237 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $38.06, for a total transaction of $541,860.22. Following the completion of the sale, the vice president now owns 37,340 shares of the company’s stock, valued at approximately $1,421,160.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,199 shares of company stock valued at $7,176,017. 6.22% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Architects LLC lifted its stake in shares of eBay by 63.5% in the second quarter. Wealth Architects LLC now owns 17,196 shares of the e-commerce company’s stock valued at $679,000 after buying an additional 6,678 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of eBay by 1.6% in the second quarter. Xact Kapitalforvaltning AB now owns 198,605 shares of the e-commerce company’s stock valued at $7,845,000 after buying an additional 3,107 shares during the period. Gofen & Glossberg LLC IL bought a new stake in shares of eBay in the second quarter valued at about $201,000. Joel Isaacson & Co. LLC lifted its stake in shares of eBay by 42.9% in the second quarter. Joel Isaacson & Co. LLC now owns 21,973 shares of the e-commerce company’s stock valued at $868,000 after buying an additional 6,598 shares during the period. Finally, Campbell & CO Investment Adviser LLC lifted its stake in shares of eBay by 23.6% in the second quarter. Campbell & CO Investment Adviser LLC now owns 11,000 shares of the e-commerce company’s stock valued at $435,000 after buying an additional 2,101 shares during the period. Institutional investors and hedge funds own 86.28% of the company’s stock.

About eBay

eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps 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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