eBay (NASDAQ:EBAY) Hits New 52-Week High Following Analyst Upgrade

eBay Inc. (NASDAQ:EBAY)’s share price hit a new 52-week high during trading on Tuesday after Bank of America raised their price target on the stock from $57.00 to $65.00. Bank of America currently has a neutral rating on the stock. eBay traded as high as $64.99 and last traded at $64.97, with a volume of 1031392 shares. The stock had previously closed at $63.45.

EBAY has been the topic of a number of other research reports. Wells Fargo & Company dropped their price target on eBay from $57.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 1st. StockNews.com downgraded shares of eBay from a “buy” rating to a “hold” rating in a report on Monday, September 9th. Wolfe Research started coverage on shares of eBay in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Susquehanna increased their price objective on shares of eBay from $52.00 to $60.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective (up from $58.00) on shares of eBay in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, eBay currently has a consensus rating of “Hold” and an average target price of $57.29.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now directly owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Stephen J. Priest sold 25,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the sale, the chief financial officer now owns 70,332 shares in the company, valued at approximately $4,494,918.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Cornelius Boone sold 3,974 shares of eBay stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total transaction of $256,760.14. Following the transaction, the senior vice president now directly owns 70,113 shares of the company’s stock, valued at $4,530,000.93. The disclosure for this sale can be found here. Insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Institutional investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of eBay during the second quarter worth approximately $26,000. Tortoise Investment Management LLC grew its holdings in eBay by 894.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after buying an additional 465 shares in the last quarter. LRI Investments LLC bought a new position in eBay during the 1st quarter worth $29,000. Hobbs Group Advisors LLC acquired a new stake in shares of eBay during the second quarter worth $29,000. Finally, Washington Trust Advisors Inc. bought a new stake in shares of eBay in the first quarter valued at about $30,000. Institutional investors own 87.48% of the company’s stock.

eBay Price Performance

The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 2.45 and a beta of 1.32. The company’s 50 day moving average is $57.98 and its 200 day moving average is $54.29. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.12.

eBay (NASDAQ:EBAY) last posted its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.88. eBay had a net margin of 26.41% and a return on equity of 29.69%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.53 billion. On average, equities research analysts anticipate that eBay Inc. will post 3.86 earnings per share for the current fiscal year.

eBay Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, August 30th. This represents a $1.08 dividend on an annualized basis and a yield of 1.68%. eBay’s dividend payout ratio (DPR) is presently 21.51%.

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.