BMO Capital Markets Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price objective increased by research analysts at BMO Capital Markets from $59.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “market perform” rating on the e-commerce company’s stock. BMO Capital Markets’ price objective points to a potential downside of 1.02% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Robert W. Baird decreased their price target on shares of eBay from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Sanford C. Bernstein upgraded shares of eBay from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research note on Tuesday, November 5th. Benchmark raised their price target on shares of eBay from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Wedbush assumed coverage on shares of eBay in a research note on Monday, December 9th. They set a “neutral” rating and a $70.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price target on shares of eBay in a research note on Thursday. Two analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, eBay has an average rating of “Hold” and a consensus price target of $65.00.

eBay Stock Performance

Shares of EBAY stock traded down $5.49 during trading hours on Thursday, hitting $63.65. 6,413,741 shares of the company were exchanged, compared to its average volume of 4,974,658. The firm has a fifty day simple moving average of $66.24 and a 200 day simple moving average of $63.67. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a 52-week low of $46.53 and a 52-week high of $71.61. The stock has a market capitalization of $30.49 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.22 and a beta of 1.35.

Insider Transactions at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.38, for a total transaction of $350,887.50. Following the completion of the transaction, the chief executive officer now directly owns 542,248 shares of the company’s stock, valued at $33,825,430.24. The trade was a 1.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 71,469 shares of the company’s stock, valued at $4,659,778.80. The trade was a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,149 shares of company stock worth $1,746,065. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in EBAY. Ameriprise Financial Inc. raised its holdings in shares of eBay by 12.4% during the fourth quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after purchasing an additional 3,149,934 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in eBay by 25.6% during the fourth quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock valued at $692,517,000 after buying an additional 2,277,839 shares during the last quarter. Wellington Management Group LLP purchased a new stake in eBay during the third quarter valued at approximately $105,506,000. Marshall Wace LLP increased its holdings in eBay by 304.2% during the fourth quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock valued at $130,421,000 after buying an additional 1,584,404 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in eBay during the fourth quarter valued at approximately $96,214,000. 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.