eBay (NASDAQ:EBAY) Cut to Hold at StockNews.com

StockNews.com lowered shares of eBay (NASDAQ:EBAY) from a buy rating to a hold rating in a research report report published on Saturday.

Several other research firms have also issued reports on EBAY. BMO Capital Markets lifted their price objective on eBay from $49.00 to $53.00 and gave the company a market perform rating in a research note on Wednesday, February 28th. Susquehanna lifted their price target on eBay from $43.00 to $52.00 and gave the stock a neutral rating in a research note on Thursday, February 29th. Piper Sandler lifted their price target on eBay from $50.00 to $52.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Barclays lifted their price target on eBay from $55.00 to $61.00 and gave the stock an overweight rating in a research note on Wednesday, February 28th. Finally, UBS Group lifted their price objective on eBay from $46.00 to $47.00 and gave the stock a neutral rating in a report on Wednesday, February 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, eBay presently has a consensus rating of Hold and a consensus price target of $48.95.

eBay Stock Down 0.9 %

Shares of NASDAQ:EBAY opened at $51.58 on Friday. The business’s 50 day simple moving average is $47.61 and its two-hundred day simple moving average is $43.79. The firm has a market cap of $26.72 billion, a P/E ratio of 9.88, a PEG ratio of 2.10 and a beta of 1.32. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.44 and a current ratio of 2.44. eBay has a 52-week low of $37.17 and a 52-week high of $52.93.

eBay (NASDAQ:EBAY) last posted its earnings results on Tuesday, February 27th. The e-commerce company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.04. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.51 billion. eBay had a return on equity of 29.16% and a net margin of 27.36%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.87 earnings per share. As a group, research analysts forecast that eBay will post 3.69 EPS for the current fiscal year.

eBay Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 25th. Stockholders of record on Monday, March 11th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from eBay’s previous quarterly dividend of $0.25. eBay’s payout ratio is currently 20.69%.

eBay declared that its Board of Directors has approved a share repurchase program on Tuesday, February 27th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the e-commerce company to reacquire up to 8.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Edward O. Garcia sold 1,165 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $43.03, for a total transaction of $50,129.95. Following the transaction, the senior vice president now directly owns 31,888 shares of the company’s stock, valued at $1,372,140.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

Institutional Investors Weigh In On eBay

Hedge funds have recently added to or reduced their stakes in the business. American Century Companies Inc. raised its position in shares of eBay by 9.5% during the 1st quarter. American Century Companies Inc. now owns 41,990 shares of the e-commerce company’s stock worth $2,404,000 after purchasing an additional 3,655 shares during the last quarter. Raymond James Trust N.A. raised its holdings in eBay by 21.7% in the 1st quarter. Raymond James Trust N.A. now owns 9,176 shares of the e-commerce company’s stock valued at $526,000 after acquiring an additional 1,638 shares during the last quarter. Sei Investments Co. raised its holdings in eBay by 34.7% in the 1st quarter. Sei Investments Co. now owns 461,862 shares of the e-commerce company’s stock valued at $26,460,000 after acquiring an additional 118,952 shares during the last quarter. Aviva PLC grew its stake in shares of eBay by 6.2% in the 1st quarter. Aviva PLC now owns 223,976 shares of the e-commerce company’s stock valued at $12,825,000 after buying an additional 13,127 shares during the period. Finally, Sequoia Financial Advisors LLC grew its stake in shares of eBay by 17.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 10,715 shares of the e-commerce company’s stock valued at $614,000 after buying an additional 1,555 shares during the period. 87.48% of the stock is owned by hedge funds and other 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.