eBay (NASDAQ:EBAY) Stock Rating Reaffirmed by The Goldman Sachs Group

eBay (NASDAQ:EBAY)‘s stock had its “positive” rating restated by analysts at The Goldman Sachs Group in a report released on Monday, The Fly reports.

EBAY has been the subject of several other reports. Wedbush reaffirmed a “neutral” rating and issued a $63.00 target price on shares of eBay in a report on Thursday, August 5th. Barclays upped their target price on eBay from $78.00 to $79.00 and gave the company an “overweight” rating in a report on Thursday, August 12th. Piper Sandler upped their target price on eBay from $79.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 27th. Jefferies Financial Group initiated coverage on eBay in a report on Thursday, September 9th. They issued a “hold” rating and a $83.00 target price for the company. Finally, Cowen upped their price objective on eBay from $65.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, August 9th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $72.59.

Shares of EBAY opened at $71.39 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.96 and a current ratio of 3.96. The stock has a 50 day moving average price of $71.65 and a two-hundred day moving average price of $65.22. The firm has a market capitalization of $46.41 billion, a P/E ratio of 3.81, a P/E/G ratio of 2.10 and a beta of 1.10. eBay has a 52 week low of $45.36 and a 52 week high of $77.83.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, August 11th. The e-commerce company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.16. The company had revenue of $2.67 billion during the quarter, compared to analyst estimates of $2.64 billion. eBay had a return on equity of 38.34% and a net margin of 115.40%. During the same period in the prior year, the company posted $1.02 earnings per share. On average, equities analysts forecast that eBay will post 3.24 earnings per share for the current year.

eBay announced that its board has initiated a stock repurchase program on Wednesday, August 11th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the e-commerce company to reacquire up to 6.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

In related news, CAO Brian J. Doerger sold 2,862 shares of the stock in a transaction on Monday, August 30th. The stock was sold at an average price of $77.69, for a total value of $222,348.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anthony John Bates sold 19,060 shares of the stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $74.12, for a total value of $1,412,727.20. Following the completion of the sale, the director now owns 20,360 shares in the company, valued at approximately $1,509,083.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 79,460 shares of company stock worth $5,844,236. Company insiders own 0.21% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of eBay by 6.3% during the second quarter. BlackRock Inc. now owns 49,638,905 shares of the e-commerce company’s stock valued at $3,485,147,000 after buying an additional 2,928,852 shares during the last quarter. FMR LLC grew its stake in shares of eBay by 55.7% during the second quarter. FMR LLC now owns 33,779,908 shares of the e-commerce company’s stock valued at $2,371,687,000 after buying an additional 12,078,389 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of eBay by 25.9% during the first quarter. Ameriprise Financial Inc. now owns 22,869,948 shares of the e-commerce company’s stock valued at $1,400,707,000 after buying an additional 4,699,614 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of eBay by 6.0% during the first quarter. Geode Capital Management LLC now owns 10,462,209 shares of the e-commerce company’s stock valued at $639,252,000 after buying an additional 588,725 shares during the last quarter. Finally, LSV Asset Management grew its stake in shares of eBay by 2.2% during the second quarter. LSV Asset Management now owns 9,245,888 shares of the e-commerce company’s stock valued at $649,153,000 after buying an additional 197,845 shares during the last quarter. 90.78% of the stock is currently owned by institutional investors and hedge funds.

About eBay

eBay, Inc operates as a commerce company. The company platforms include online marketplace and its localized counterparts, including off-platform businesses in South Korea, Japan, and Turkey, as well as eBay’s suite of mobile apps. The company technologies and services are designed to give buyers choice and a breadth of relevant inventory and to enable sellers worldwide to organize and offer their inventory for sale, virtually anytime and anywhere.

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