Morgan Stanley Increases eBay (NASDAQ:EBAY) Price Target to $71.00

eBay (NASDAQ:EBAY) had its target price hoisted by Morgan Stanley from $65.00 to $71.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s price objective suggests a potential upside of 10.92% from the company’s current price.

A number of other research analysts have also issued reports on EBAY. Jefferies Financial Group lifted their target price on eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday. Citigroup boosted their target price on shares of eBay from $64.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Cantor Fitzgerald restated a “neutral” rating and issued a $62.00 price target on shares of eBay in a research report on Monday, October 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price target on shares of eBay in a report on Wednesday. Finally, Bank of America raised their price objective on eBay from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, eBay presently has an average rating of “Hold” and a consensus price target of $61.71.

eBay Trading Up 0.7 %

NASDAQ:EBAY opened at $64.01 on Friday. eBay has a 1 year low of $37.17 and a 1 year high of $67.80. The business has a fifty day moving average of $62.40 and a 200-day moving average of $56.28. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $32.13 billion, a price-to-earnings ratio of 12.75, a PEG ratio of 2.59 and a beta of 1.32.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, meeting the consensus estimate of $0.88. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.53 billion. eBay had a net margin of 26.41% and a return on equity of 29.69%. Equities analysts predict that eBay will post 3.86 earnings per share for the current year.

Insider Buying and Selling at eBay

In related news, CFO Stephen J. Priest sold 1,167 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total value of $77,757.21. Following the completion of the transaction, the chief financial officer now directly owns 65,079 shares in the company, valued at approximately $4,336,213.77. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other eBay 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 transaction of $1,597,750.00. Following the completion of the transaction, the chief financial officer now directly owns 70,332 shares in the company, valued at $4,494,918.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now owns 65,079 shares in the company, valued at $4,336,213.77. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 41,391 shares of company stock valued at $2,678,424 in the last quarter. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Several institutional investors have recently added to or reduced their stakes in EBAY. Park Avenue Securities LLC increased its holdings in shares of eBay by 6.3% during the first quarter. Park Avenue Securities LLC now owns 10,557 shares of the e-commerce company’s stock worth $557,000 after buying an additional 623 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in eBay during the 1st quarter valued at $1,006,000. Kathmere Capital Management LLC bought a new position in eBay in the 1st quarter valued at $436,000. Founders Financial Securities LLC acquired a new position in eBay in the first quarter worth $311,000. Finally, Optas LLC grew its holdings in shares of eBay by 1.9% during the first quarter. Optas LLC now owns 33,758 shares of the e-commerce company’s stock worth $1,782,000 after purchasing an additional 621 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

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.