eBay (NASDAQ:EBAY) Shares Gap Down Following Analyst Downgrade

eBay Inc. (NASDAQ:EBAY)’s share price gapped down before the market opened on Thursday after Bank of America lowered their price target on the stock from $67.00 to $64.00. The stock had previously closed at $62.63, but opened at $58.88. Bank of America currently has a neutral rating on the stock. eBay shares last traded at $57.22, with a volume of 1,313,863 shares traded.

EBAY has been the topic of a number of other research reports. Wolfe Research started coverage on eBay in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of eBay in a research report on Thursday. Truist Financial lifted their price target on shares of eBay from $50.00 to $58.00 and gave the stock a “hold” rating in a report on Tuesday, August 6th. Morgan Stanley upped their price target on shares of eBay from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Finally, Evercore ISI increased their target price on eBay from $47.00 to $53.00 and gave the stock an “in-line” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, eBay has a consensus rating of “Hold” and an average price target of $62.23.

Insiders Place Their Bets

In other news, CFO Stephen J. Priest sold 1,167 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the sale, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Jamie Iannone sold 5,625 shares of the business’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 value of $374,400.00. Following the transaction, the chief executive officer now directly owns 553,666 shares of the company’s stock, valued at $36,852,008.96. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $66.63, for a total value of $77,757.21. Following the transaction, the chief financial officer now directly owns 65,079 shares of the company’s stock, valued at $4,336,213.77. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,391 shares of company stock worth $2,678,424 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On eBay

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new position in eBay in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC boosted its holdings in shares of eBay by 894.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 517 shares of the e-commerce company’s stock valued at $28,000 after acquiring an additional 465 shares in the last quarter. LRI Investments LLC bought a new stake in shares of eBay in the first quarter worth $29,000. Hobbs Group Advisors LLC acquired a new stake in eBay in the second quarter valued at $29,000. Finally, Washington Trust Advisors Inc. bought a new position in eBay during the 1st quarter worth $30,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

eBay Stock Down 7.2 %

The company has a debt-to-equity ratio of 1.12, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a 50-day moving average price of $63.03 and a 200-day moving average price of $56.67. The company has a market capitalization of $29.17 billion, a P/E ratio of 11.40, a P/E/G ratio of 2.45 and a beta of 1.32.

eBay (NASDAQ:EBAY) last released its earnings results on Wednesday, July 31st. The e-commerce company reported $0.88 EPS for the quarter, hitting the consensus estimate of $0.88. eBay had a return on equity of 29.69% and a net margin of 26.41%. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.53 billion. On average, research analysts predict that eBay Inc. will post 3.86 EPS for the current fiscal year.

eBay Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 1.86%. eBay’s dividend payout ratio (DPR) is 21.51%.

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.