eBay (NASDAQ:EBAY) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

eBay (NASDAQ:EBAY) had its target price lifted by equities research analysts at Wells Fargo & Company from $59.00 to $61.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 9.07% from the company’s previous close.

Several other brokerages also recently weighed in on EBAY. Citigroup lifted their target price on shares of eBay from $68.00 to $75.00 and gave the company a “buy” rating in a report on Friday, January 3rd. Wedbush began coverage on eBay in a report on Monday, December 9th. They issued a “neutral” rating and a $70.00 price objective on the stock. UBS Group cut their target price on eBay from $72.00 to $66.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft decreased their price target on eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Finally, TD Cowen raised their target price on eBay from $45.00 to $54.00 and gave the company a “hold” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, eBay presently has an average rating of “Hold” and a consensus target price of $62.92.

eBay Stock Performance

Shares of NASDAQ EBAY traded down $0.40 during mid-day trading on Monday, hitting $67.08. 915,509 shares of the company were exchanged, compared to its average volume of 4,791,559. The stock has a 50 day simple moving average of $64.46 and a 200-day simple moving average of $61.96. eBay has a 1-year low of $40.74 and a 1-year high of $71.52. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $32.13 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 2.15 and a beta of 1.35.

Insider Transactions at eBay

In other eBay news, CFO Stephen J. Priest sold 1,033 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $64.93, for a total value of $67,072.69. Following the completion of the sale, the chief financial officer now owns 65,080 shares of the company’s stock, valued at $4,225,644.40. This trade represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,989 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the transaction, the senior vice president now owns 71,469 shares of the company’s stock, valued at $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,524 shares of company stock worth $1,367,784 in the last three months. 0.38% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers lifted its stake in shares of eBay by 83.5% in the second quarter. Cetera Investment Advisers now owns 145,247 shares of the e-commerce company’s stock worth $7,803,000 after acquiring an additional 66,096 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of eBay during the 2nd quarter valued at approximately $1,580,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of eBay by 52.1% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,345 shares of the e-commerce company’s stock valued at $88,000 after buying an additional 461 shares during the last quarter. Handelsbanken Fonder AB increased its stake in shares of eBay by 0.4% in the third quarter. Handelsbanken Fonder AB now owns 324,082 shares of the e-commerce company’s stock worth $21,101,000 after buying an additional 1,334 shares during the last quarter. Finally, Czech National Bank raised its holdings in eBay by 3.3% in the third quarter. Czech National Bank now owns 99,614 shares of the e-commerce company’s stock valued at $6,486,000 after acquiring an additional 3,190 shares in the last quarter. 87.48% of the stock is owned by hedge funds and other 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.