Wells Fargo & Company Cuts eBay (NASDAQ:EBAY) Price Target to $62.00

eBay (NASDAQ:EBAY) had its price target dropped by equities researchers at Wells Fargo & Company from $63.00 to $62.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 7.04% from the stock’s current price.

Several other brokerages have also weighed in on EBAY. UBS Group lowered their price objective on eBay from $72.00 to $66.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of eBay from $58.00 to $65.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Susquehanna lifted their price objective on shares of eBay from $52.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research assumed coverage on eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Truist Financial upped their price target on eBay from $50.00 to $58.00 and gave the company a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.86.

eBay Stock Performance

EBAY traded up $0.41 during midday trading on Friday, reaching $57.92. The company had a trading volume of 3,862,832 shares, compared to its average volume of 5,440,205. eBay has a 12-month low of $37.17 and a 12-month high of $67.80. The business has a 50-day moving average price of $63.00 and a two-hundred day moving average price of $56.67. The stock has a market cap of $28.32 billion, a PE ratio of 14.52, a P/E/G ratio of 1.95 and a beta of 1.32. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.25 and a current ratio of 1.25.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Wednesday, July 31st. The e-commerce company reported $0.88 earnings per share for the quarter, meeting the consensus estimate of $0.88. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.53 billion. eBay had a return on equity of 30.15% and a net margin of 19.68%. On average, sell-side analysts expect that eBay will post 3.86 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Stephen J. Priest sold 25,000 shares of eBay 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 completion of the sale, the chief financial officer now directly owns 70,332 shares in the company, valued at approximately $4,494,918.12. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other eBay news, SVP Cornelius Boone sold 3,974 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $64.61, for a total value of $256,760.14. Following the completion of the sale, the senior vice president now owns 70,113 shares of the company’s stock, valued at approximately $4,530,000.93. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 25,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $63.91, for a total value of $1,597,750.00. Following the completion of the transaction, the chief financial officer now owns 70,332 shares of the company’s stock, valued at approximately $4,494,918.12. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,391 shares of company stock worth $2,678,424. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On eBay

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Private Advisor Group LLC raised its holdings in shares of eBay by 90.7% during the third quarter. Private Advisor Group LLC now owns 45,500 shares of the e-commerce company’s stock valued at $2,963,000 after acquiring an additional 21,636 shares during the last quarter. Van ECK Associates Corp lifted its stake in eBay by 25.0% in the first quarter. Van ECK Associates Corp now owns 85,688 shares of the e-commerce company’s stock worth $4,523,000 after acquiring an additional 17,143 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of eBay by 325.4% during the first quarter. Cetera Investment Advisers now owns 79,151 shares of the e-commerce company’s stock worth $4,178,000 after purchasing an additional 60,544 shares in the last quarter. PGGM Investments increased its holdings in shares of eBay by 88.0% in the 2nd quarter. PGGM Investments now owns 61,115 shares of the e-commerce company’s stock valued at $3,283,000 after acquiring an additional 28,604 shares during the last quarter. Finally, Freestone Capital Holdings LLC raised its holdings in eBay by 435.2% during the first quarter. Freestone Capital Holdings LLC now owns 36,431 shares of the e-commerce company’s stock worth $1,923,000 after purchasing an additional 29,624 shares in the last quarter. 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.