eBay (NASDAQ:EBAY) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of eBay (NASDAQ:EBAY) from a hold rating to a buy rating in a research note released on Thursday.

Several other brokerages have also recently issued reports on EBAY. The Goldman Sachs Group started coverage on shares of eBay in a report on Wednesday, January 10th. They issued a sell rating and a $38.00 target price for the company. Truist Financial upped their target price on shares of eBay from $47.00 to $48.00 and gave the company a hold rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their target price on shares of eBay from $45.00 to $47.00 and gave the company an equal weight rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of eBay from $55.00 to $58.00 and gave the company a buy rating in a research note on Wednesday, April 10th. Finally, Susquehanna upped their target price on shares of eBay from $43.00 to $52.00 and gave the company a neutral rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, eBay currently has a consensus rating of Hold and an average price target of $49.21.

eBay Trading Up 0.3 %

Shares of NASDAQ EBAY opened at $51.34 on Thursday. eBay has a 1 year low of $37.17 and a 1 year high of $52.93. The stock has a market cap of $26.59 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.33. The firm has a 50-day moving average of $49.93 and a 200 day moving average of $44.48. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.44 and a quick ratio of 2.44.

eBay (NASDAQ:EBAY) last issued its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.04. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.51 billion. eBay had a net margin of 27.36% and a return on equity of 29.16%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.87 earnings per share. As a group, sell-side analysts expect that eBay will post 3.75 EPS for the current fiscal year.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.10%. This is a positive change from eBay’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 8th. eBay’s dividend payout ratio is currently 20.69%.

eBay announced that its board has initiated a stock buyback program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to purchase up to 8.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In related news, SVP Edward O. Garcia sold 1,165 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $43.03, for a total value of $50,129.95. Following the completion of the sale, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at approximately $1,372,140.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On eBay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in eBay during the 4th quarter valued at approximately $25,000. Jones Financial Companies Lllp grew its holdings in eBay by 73.5% during the 4th quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after buying an additional 310 shares in the last quarter. American National Bank grew its holdings in eBay by 200.0% during the 1st quarter. American National Bank now owns 600 shares of the e-commerce company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. First Command Advisory Services Inc. purchased a new stake in eBay during the 3rd quarter valued at approximately $46,000. Finally, Riverview Trust Co purchased a new stake in eBay during the 1st quarter valued at approximately $48,000. 87.48% of the stock is 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.