UBS Group Cuts eBay (NASDAQ:EBAY) Price Target to $66.00

eBay (NASDAQ:EBAY) had its price target cut by stock analysts at UBS Group from $72.00 to $66.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the e-commerce company’s stock. UBS Group’s target price points to a potential upside of 16.12% from the company’s current price.

Several other research analysts also recently issued reports on EBAY. Truist Financial upped their target price on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a research note on Tuesday, August 6th. Benchmark reiterated a “buy” rating and set a $65.00 target price on shares of eBay in a research note on Tuesday. Deutsche Bank Aktiengesellschaft boosted their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $62.00 price objective on shares of eBay in a research report on Monday, October 7th. Finally, Morgan Stanley upped their target price on shares of eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.91.

eBay Stock Down 9.2 %

EBAY stock traded down $5.79 on Thursday, reaching $56.84. 7,109,472 shares of the company traded hands, compared to its average volume of 5,430,139. The firm has a fifty day simple moving average of $63.03 and a 200-day simple moving average of $56.67. The company has a market cap of $28.53 billion, a P/E ratio of 11.34, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. eBay has a one year low of $37.17 and a one year high of $67.80. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25.

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

Insiders Place Their Bets

In other news, SVP Cornelius Boone sold 3,974 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the transaction, the senior vice president now owns 70,113 shares of the company’s stock, valued at $4,530,000.93. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, SVP Cornelius Boone sold 3,974 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $64.61, for a total value of $256,760.14. Following the transaction, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen J. Priest sold 1,167 shares of the firm’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 transaction, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,391 shares of company stock worth $2,678,424. Corporate insiders own 0.38% of the company’s stock.

Hedge Funds Weigh In On eBay

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of eBay during the 2nd quarter worth approximately $26,000. Tortoise Investment Management LLC raised its stake in eBay by 894.2% during the second quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after purchasing an additional 465 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in eBay during the second quarter valued at $29,000. Washington Trust Advisors Inc. purchased a new position in shares of eBay in the 1st quarter worth $30,000. Finally, LRI Investments LLC bought a new stake in shares of eBay in the 1st quarter worth about $29,000. 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.