eBay (EBAY) Given New $34.50 Price Target at Morgan Stanley

eBay (NASDAQ:EBAY) had its price objective increased by Morgan Stanley from $33.00 to $34.50 in a report released on Wednesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the e-commerce company’s stock.

Several other analysts have also recently commented on EBAY. Benchmark restated a buy rating and set a $42.00 price objective on shares of eBay in a research note on Tuesday, April 16th. Canaccord Genuity lifted their price objective on shares of eBay from $33.00 to $38.00 and gave the company a hold rating in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of eBay from $39.00 to $41.00 and gave the company a hold rating in a research note on Wednesday. Robert W. Baird lifted their price objective on shares of eBay from $40.00 to $44.00 and gave the company an outperform rating in a research note on Wednesday. Finally, UBS Group lifted their price objective on shares of eBay from $40.00 to $42.00 and gave the company a buy rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $40.12.

Shares of NASDAQ EBAY opened at $38.36 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.22. eBay has a 12 month low of $26.01 and a 12 month high of $40.86. The company has a market cap of $33.56 billion, a price-to-earnings ratio of 16.53, a price-to-earnings-growth ratio of 1.79 and a beta of 1.35.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, April 23rd. The e-commerce company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.63 by $0.04. eBay had a net margin of 24.43% and a return on equity of 29.43%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.58 billion. During the same period in the previous year, the business posted $0.53 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that eBay will post 2.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Saturday, June 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, May 30th. eBay’s payout ratio is presently 24.14%.

In related news, VP Brian J. Doerger sold 10,185 shares of the business’s stock in a transaction on Friday, February 1st. The shares were sold at an average price of $34.30, for a total value of $349,345.50. Following the completion of the sale, the vice president now owns 39,544 shares of the company’s stock, valued at approximately $1,356,359.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Scott F. Schenkel sold 89,707 shares of the business’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $38.50, for a total transaction of $3,453,719.50. Following the completion of the sale, the chief financial officer now directly owns 273,283 shares of the company’s stock, valued at approximately $10,521,395.50. The disclosure for this sale can be found here. 6.22% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Kentucky Retirement Systems bought a new position in shares of eBay during the 3rd quarter worth about $5,280,000. Teachers Advisors LLC boosted its position in shares of eBay by 2.4% during the 3rd quarter. Teachers Advisors LLC now owns 3,881,641 shares of the e-commerce company’s stock worth $128,172,000 after purchasing an additional 90,238 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of eBay by 74.8% during the 3rd quarter. Nordea Investment Management AB now owns 17,883,506 shares of the e-commerce company’s stock worth $590,516,000 after purchasing an additional 7,651,060 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of eBay by 60.9% during the 3rd quarter. Clearbridge Investments LLC now owns 7,115 shares of the e-commerce company’s stock worth $235,000 after purchasing an additional 2,692 shares in the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of eBay by 18.2% during the 3rd quarter. Federated Investors Inc. PA now owns 884,418 shares of the e-commerce company’s stock worth $29,204,000 after purchasing an additional 136,488 shares in the last quarter. 89.97% of the stock is owned by institutional investors.

About eBay

eBay Inc operates commerce platforms connecting various buyers and sellers worldwide. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay suite of mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

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