eBay (NASDAQ:EBAY) Price Target Lowered to $70.00 at Morgan Stanley

eBay (NASDAQ:EBAY) had its price target cut by research analysts at Morgan Stanley from $71.00 to $70.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the e-commerce company’s stock. Morgan Stanley’s price target indicates a potential upside of 5.96% from the company’s previous close.

Several other analysts have also commented on EBAY. Citigroup raised their price target on shares of eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their price target on eBay from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. StockNews.com upgraded eBay from a “hold” rating to a “buy” rating in a research report on Wednesday, April 9th. Cantor Fitzgerald boosted their price objective on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their target price on eBay from $64.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $65.13.

eBay Stock Performance

NASDAQ:EBAY traded up $0.59 during trading hours on Thursday, reaching $66.06. The company had a trading volume of 771,347 shares, compared to its average volume of 4,946,872. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. eBay has a 1-year low of $48.52 and a 1-year high of $71.61. The business’s 50 day moving average price is $66.38 and its 200-day moving average price is $64.95. The firm has a market cap of $30.79 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43.

Insider Buying and Selling

In related news, CFO Stephen J. Priest sold 28,060 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $67.82, for a total transaction of $1,903,029.20. Following the completion of the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at $4,413,725.60. This trade represents a 30.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Cornelius Boone sold 3,958 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at approximately $6,329,927.52. The trade was a 4.02 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,143 shares of company stock valued at $3,044,359. 0.38% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EBAY. Ameriprise Financial Inc. boosted its stake in shares of eBay by 12.4% in the 4th quarter. Ameriprise Financial Inc. now owns 28,493,042 shares of the e-commerce company’s stock valued at $1,765,148,000 after buying an additional 3,149,934 shares during the period. Independent Franchise Partners LLP grew its holdings in eBay by 25.6% during the 4th quarter. Independent Franchise Partners LLP now owns 11,178,638 shares of the e-commerce company’s stock worth $692,517,000 after acquiring an additional 2,277,839 shares in the last quarter. Marshall Wace LLP increased its position in shares of eBay by 304.2% in the 4th quarter. Marshall Wace LLP now owns 2,105,270 shares of the e-commerce company’s stock valued at $130,421,000 after purchasing an additional 1,584,404 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of eBay in the 4th quarter valued at $96,214,000. Finally, Boston Partners raised its holdings in shares of eBay by 35.2% in the 4th quarter. Boston Partners now owns 5,856,276 shares of the e-commerce company’s stock valued at $362,823,000 after purchasing an additional 1,524,691 shares in the last quarter. 87.48% of the stock is currently owned by hedge funds and other institutional investors.

eBay Company Profile

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.