Royal Bank of Canada Raises eBay (NASDAQ:EBAY) Price Target to $57.00

eBay (NASDAQ:EBAY) had its price objective hoisted by Royal Bank of Canada from $45.00 to $57.00 in a report published on Wednesday morning, The Fly reports. They currently have a sector perform rating on the e-commerce company’s stock.

A number of other research analysts have also issued reports on the stock. Guggenheim boosted their target price on shares of eBay from $60.00 to $65.00 and gave the company a buy rating in a research note on Wednesday. TheStreet lowered shares of eBay from a b- rating to a c+ rating in a research note on Thursday, April 2nd. Susquehanna Bancshares upped their price target on shares of eBay from $43.00 to $44.00 and gave the stock a positive rating in a research note on Thursday, April 30th. Goldman Sachs Group upped their price target on shares of eBay from $49.00 to $56.00 and gave the stock a neutral rating in a research note on Monday, July 20th. They noted that the move was a valuation call. Finally, BMO Capital Markets lowered shares of eBay from a positive rating to a market perform rating and upped their price target for the stock from $52.00 to $59.00 in a research note on Wednesday, July 22nd. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twelve have issued a buy rating to the stock. eBay presently has a consensus rating of Hold and a consensus target price of $57.71.

Shares of NASDAQ EBAY traded up $0.56 during midday trading on Wednesday, hitting $55.28. The company’s stock had a trading volume of 8,942,293 shares, compared to its average volume of 9,885,240. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.34 and a current ratio of 1.58. The firm’s fifty day moving average price is $53.69 and its 200-day moving average price is $41.41. The firm has a market cap of $38.69 billion, a P/E ratio of 8.35, a P/E/G ratio of 1.47 and a beta of 1.40. eBay has a 1-year low of $26.02 and a 1-year high of $61.06.

eBay (NASDAQ:EBAY) last posted its earnings results on Tuesday, July 28th. The e-commerce company reported $1.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.18. The firm had revenue of $2.87 billion during the quarter, compared to analyst estimates of $2.80 billion. eBay had a net margin of 46.91% and a return on equity of 77.65%. eBay’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.68 EPS. As a group, research analysts predict that eBay will post 2.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Monday, August 31st. eBay’s dividend payout ratio is currently 27.59%.

In related news, CFO Andrew John Cring sold 23,240 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $43.00, for a total transaction of $999,320.00. Following the completion of the transaction, the chief financial officer now directly owns 117,919 shares in the company, valued at approximately $5,070,517. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 5.02% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Baupost Group LLC MA raised its stake in eBay by 60.5% during the 1st quarter. Baupost Group LLC MA now owns 32,086,000 shares of the e-commerce company’s stock valued at $964,505,000 after purchasing an additional 12,091,030 shares during the last quarter. Geode Capital Management LLC raised its stake in eBay by 1.4% during the 1st quarter. Geode Capital Management LLC now owns 11,510,268 shares of the e-commerce company’s stock valued at $345,550,000 after purchasing an additional 158,304 shares during the last quarter. Norges Bank acquired a new position in eBay during the 4th quarter valued at $324,031,000. First Trust Advisors LP raised its stake in shares of eBay by 29.8% in the 2nd quarter. First Trust Advisors LP now owns 8,338,771 shares of the e-commerce company’s stock valued at $437,369,000 after buying an additional 1,914,125 shares in the last quarter. Finally, Starboard Value LP raised its stake in shares of eBay by 6.3% in the 1st quarter. Starboard Value LP now owns 7,920,000 shares of the e-commerce company’s stock valued at $238,075,000 after buying an additional 470,000 shares in the last quarter. Hedge funds and other institutional investors own 92.53% of the company’s stock.

eBay Company Profile

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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