eBay (NASDAQ:EBAY) Stock Price Expected to Rise, Citigroup Analyst Says

eBay (NASDAQ:EBAY) had its price objective raised by Citigroup from $68.00 to $75.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce company’s stock. Citigroup’s target price would suggest a potential upside of 21.73% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of eBay from $70.00 to $63.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Morgan Stanley lifted their price objective on eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Sanford C. Bernstein upgraded eBay from a “market perform” rating to an “outperform” rating and set a $70.00 target price on the stock in a report on Tuesday, November 5th. Piper Sandler raised their target price on eBay from $64.00 to $67.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Finally, Truist Financial upped their price target on eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.92.

eBay Stock Performance

Shares of EBAY stock opened at $61.61 on Friday. The firm has a market capitalization of $29.51 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.20 and a beta of 1.35. The stock has a fifty day moving average of $62.70 and a 200 day moving average of $60.15. eBay has a 52 week low of $40.16 and a 52 week high of $67.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14.

Insider Activity at eBay

In related news, SVP Cornelius Boone sold 3,989 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the transaction, the senior vice president now directly owns 71,469 shares in the company, valued at approximately $4,659,778.80. The trade was a 5.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jamie Iannone sold 5,625 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $66.56, for a total transaction of $374,400.00. Following the completion of the transaction, the chief executive officer now owns 553,666 shares of the company’s stock, valued at approximately $36,852,008.96. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,283 shares of company stock worth $1,738,975 over the last quarter. Company insiders own 0.38% of the company’s stock.

Institutional Investors Weigh In On eBay

Institutional investors and hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in eBay by 13.2% in the 4th quarter. GAMMA Investing LLC now owns 10,485 shares of the e-commerce company’s stock worth $650,000 after purchasing an additional 1,220 shares during the period. Versant Capital Management Inc raised its position in shares of eBay by 115.5% during the fourth quarter. Versant Capital Management Inc now owns 836 shares of the e-commerce company’s stock valued at $52,000 after buying an additional 448 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of eBay by 1.7% in the third quarter. Principal Financial Group Inc. now owns 594,161 shares of the e-commerce company’s stock worth $38,686,000 after buying an additional 9,990 shares in the last quarter. Lord Abbett & CO. LLC bought a new stake in eBay in the 3rd quarter valued at $25,132,000. Finally, Retirement Systems of Alabama lifted its stake in eBay by 27.0% in the 3rd quarter. Retirement Systems of Alabama now owns 986,165 shares of the e-commerce company’s stock worth $64,209,000 after purchasing an additional 209,433 shares in the last quarter. 87.48% of the stock is owned by 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.