Cantor Fitzgerald Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price target increased by equities research analysts at Cantor Fitzgerald from $65.00 to $70.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the e-commerce company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 8.12% from the company’s previous close.

Several other brokerages also recently issued reports on EBAY. JPMorgan Chase & Co. lifted their price target on shares of eBay from $58.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company lifted their target price on shares of eBay from $61.00 to $64.00 and gave the company an “equal weight” rating in a research note on Thursday. BMO Capital Markets boosted their target price on eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a report on Thursday. Bank of America dropped their price target on eBay from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Jefferies Financial Group lowered eBay from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, eBay currently has an average rating of “Hold” and an average price target of $65.33.

eBay Stock Performance

eBay stock opened at $64.74 on Thursday. The firm has a market capitalization of $31.01 billion, a P/E ratio of 16.27, a P/E/G ratio of 2.22 and a beta of 1.35. The stock has a fifty day moving average price of $66.22 and a two-hundred day moving average price of $63.73. eBay has a 52-week low of $47.06 and a 52-week high of $71.61. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25.

Insider Buying and Selling at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $67.25, for a total value of $378,281.25. Following the sale, the chief executive officer now directly owns 530,998 shares in the company, valued at $35,709,615.50. This trade represents a 1.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen J. Priest sold 5,252 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $63.63, for a total transaction of $334,184.76. Following the transaction, the chief financial officer now owns 65,080 shares of the company’s stock, valued at approximately $4,141,040.40. This represents a 7.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,149 shares of company stock valued at $1,746,065. 0.38% of the stock is currently owned by company insiders.

Institutional Trading of eBay

Several hedge funds have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. increased its holdings in shares of eBay by 12.4% in the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock worth $1,765,148,000 after acquiring an additional 3,149,934 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of eBay by 25.6% in the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after purchasing an additional 2,277,839 shares during the period. Nordea Investment Management AB increased its stake in eBay by 3.8% during the 4th quarter. Nordea Investment Management AB now owns 9,151,026 shares of the e-commerce company’s stock worth $573,220,000 after purchasing an additional 335,035 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in eBay by 3.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 7,032,336 shares of the e-commerce company’s stock worth $435,665,000 after buying an additional 245,624 shares during the period. Finally, Northern Trust Corp raised its holdings in eBay by 17.8% during the 4th quarter. Northern Trust Corp now owns 6,809,265 shares of the e-commerce company’s stock worth $421,834,000 after buying an additional 1,030,292 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.

eBay Company Profile

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.