eBay (NASDAQ:EBAY) Receives “Buy” Rating from Needham & Company LLC

27 Oct 2024, 07:40 by Doug Wharley · The Cerbat Gem

Needham & Company LLC reaffirmed their buy rating on shares of eBay (NASDAQ:EBAY – Free Report) in a report issued on Wednesday morning, Marketbeat Ratings reports. They currently have a $72.00 price objective on the e-commerce company’s stock.

A number of other brokerages also recently commented on EBAY. Evercore ISI increased their price objective on shares of eBay from $47.00 to $53.00 and gave the company an “in-line” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lifted their price target on eBay from $60.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price objective on eBay from $55.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday, October 3rd. Piper Sandler restated an “overweight” rating and set a $64.00 target price (up previously from $58.00) on shares of eBay in a research note on Thursday, August 1st. Finally, Wolfe Research began coverage on shares of eBay in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, eBay currently has an average rating of “Hold” and a consensus price target of $62.14.

View Our Latest Analysis on EBAY

eBay Trading Down 0.8 %

NASDAQ:EBAY opened at $63.10 on Wednesday. eBay has a 12-month low of $37.17 and a 12-month high of $67.80. The firm has a market cap of $30.86 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 2.45 and a beta of 1.32. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.12. The stock has a fifty day moving average price of $62.71 and a 200 day moving average price of $56.41.

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

eBay Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 1.71%. The ex-dividend date was Friday, August 30th. eBay’s dividend payout ratio is presently 20.97%.

Insider Buying and Selling at eBay

In other news, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the sale, the chief executive officer now owns 559,291 shares in the company, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephen J. Priest sold 25,000 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $63.91, for a total transaction of $1,597,750.00. Following the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at $4,494,918.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jamie Iannone sold 5,625 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $66.09, for a total value of $371,756.25. Following the completion of the sale, the chief executive officer now directly owns 559,291 shares of the company’s stock, valued at approximately $36,963,542.19. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,391 shares of company stock valued at $2,678,424. 0.38% of the stock is owned by company insiders.

Hedge Funds Weigh In On eBay

A number of institutional investors and hedge funds have recently made changes to their positions in EBAY. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in eBay during the second quarter worth about $26,000. Tortoise Investment Management LLC lifted its position in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares during the period. LRI Investments LLC acquired a new stake in shares of eBay during the 1st quarter valued at approximately $29,000. Hobbs Group Advisors LLC purchased a new stake in shares of eBay during the 2nd quarter worth approximately $29,000. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of eBay in the 1st quarter worth approximately $30,000. 87.48% of the stock is owned by institutional investors and hedge funds.

eBay Company Profile

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