eBay (NASDAQ:EBAY) Shares Gap Up to $49.45

Shares of eBay Inc. (NASDAQ:EBAY) gapped up prior to trading on Thursday . The stock had previously closed at $49.45, but opened at $51.33. eBay shares last traded at $50.41, with a volume of 1,675,050 shares.

Analyst Ratings Changes

A number of research firms recently weighed in on EBAY. StockNews.com raised shares of eBay from a “hold” rating to a “buy” rating in a report on Sunday. Susquehanna increased their price objective on shares of eBay from $43.00 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, February 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of eBay from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised their target price on shares of eBay from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Thursday, April 4th. Finally, Mizuho raised their target price on shares of eBay from $40.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $49.21.

eBay Stock Performance

The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 1.09. The company’s 50-day moving average price is $48.91 and its two-hundred day moving average price is $44.16. The company has a market cap of $26.11 billion, a P/E ratio of 9.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.33.

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

eBay Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. This is a boost from eBay’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. eBay’s dividend payout ratio (DPR) is presently 20.69%.

eBay declared that its Board of Directors has approved a stock repurchase program on Tuesday, February 27th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the e-commerce company to purchase up to 8.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

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

Institutional Trading of eBay

Several institutional investors have recently made changes to their positions in EBAY. CVA Family Office LLC acquired a new stake in shares of eBay during the fourth quarter worth approximately $25,000. SkyView Investment Advisors LLC bought a new position in eBay during the first quarter valued at approximately $27,000. Almanack Investment Partners LLC. bought a new position in eBay during the third quarter valued at approximately $28,000. Stonebridge Capital Advisors LLC bought a new position in eBay during the fourth quarter valued at approximately $29,000. Finally, Jones Financial Companies Lllp raised its position in eBay by 73.5% during the fourth quarter. Jones Financial Companies Lllp now owns 732 shares of the e-commerce company’s stock valued at $32,000 after acquiring an additional 310 shares in the last quarter. 87.48% of the stock is currently owned by institutional investors and hedge funds.

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.