eBay (NASDAQ:EBAY) Given New $78.00 Price Target at Needham & Company LLC

eBay (NASDAQ:EBAY) had its price target increased by Needham & Company LLC from $72.00 to $78.00 in a research report released on Thursday,Benzinga reports. They currently have a buy rating on the e-commerce company’s stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of eBay from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Cantor Fitzgerald boosted their target price on eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Stifel Nicolaus reduced their price objective on eBay from $63.00 to $61.00 and set a “hold” rating on the stock in a research note on Wednesday, April 23rd. Sanford C. Bernstein lowered shares of eBay from an “outperform” rating to a “market perform” rating and cut their target price for the company from $70.00 to $65.00 in a report on Tuesday, April 22nd. Finally, Susquehanna upped their price target on shares of eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, March 3rd. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, eBay has a consensus rating of “Hold” and an average target price of $67.12.

eBay Price Performance

Shares of NASDAQ:EBAY opened at $68.60 on Thursday. The firm’s 50 day simple moving average is $65.83 and its two-hundred day simple moving average is $65.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market capitalization of $31.97 billion, a P/E ratio of 17.24, a P/E/G ratio of 2.22 and a beta of 1.30. eBay has a 1-year low of $49.25 and a 1-year high of $71.61.

eBay (NASDAQ:EBAY) last issued its quarterly earnings results on Wednesday, April 30th. The e-commerce company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. eBay had a return on equity of 30.97% and a net margin of 19.68%. The business had revenue of $2.59 billion during the quarter, compared to analyst estimates of $2.55 billion. During the same quarter in the prior year, the business posted $1.25 EPS. eBay’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts expect that eBay will post 3.86 EPS for the current fiscal year.

eBay Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.16 dividend on an annualized basis and a yield of 1.69%. eBay’s dividend payout ratio is currently 27.62%.

Insider Activity

In other eBay news, CFO Stephen J. Priest sold 28,060 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,413,725.60. This trade represents a 30.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,958 shares of the company’s stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the sale, the senior vice president now owns 94,392 shares of the company’s stock, valued at $6,329,927.52. This represents a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,310 shares of company stock valued at $3,121,626. Corporate insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Several large investors have recently modified their holdings of EBAY. Golden State Wealth Management LLC bought a new position in eBay in the fourth quarter worth approximately $27,000. Orion Capital Management LLC purchased a new position in shares of eBay in the 4th quarter valued at $27,000. Abound Financial LLC bought a new position in shares of eBay in the 1st quarter worth $29,000. Pinney & Scofield Inc. purchased a new stake in shares of eBay during the 4th quarter worth $31,000. Finally, Itau Unibanco Holding S.A. bought a new stake in eBay during the fourth quarter valued at about $33,000. Institutional investors own 87.48% of the company’s stock.

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.