DA Davidson Initiates Coverage on eBay Inc. (EBAY)

Equities researchers at DA Davidson started coverage on shares of eBay Inc. (NASDAQ:EBAY) in a note issued to investors on Wednesday. The brokerage set a “buy” rating and a $45.00 price target on the e-commerce company’s stock. DA Davidson’s target price would suggest a potential upside of 17.49% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Goldman Sachs Group, Inc. (The) set a $42.00 price target on eBay and gave the stock a “buy” rating in a report on Wednesday, June 28th. Aegis upped their price target on eBay from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Citigroup Inc. restated a “buy” rating and set a $41.00 price target (up previously from $36.00) on shares of eBay in a report on Thursday, June 8th. Credit Suisse Group upgraded eBay from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $44.00 in a report on Monday, June 5th. Finally, Morgan Stanley set a $29.00 price objective on eBay and gave the company a “sell” rating in a report on Friday, July 21st. Three investment analysts have rated the stock with a sell rating, twenty have given a hold rating and eighteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $37.24.

eBay (NASDAQ EBAY) opened at 38.30 on Wednesday. The stock’s 50 day moving average price is $35.95 and its 200 day moving average price is $34.74. eBay has a 52 week low of $27.28 and a 52 week high of $38.59. The stock has a market cap of $40.99 billion, a price-to-earnings ratio of 5.75 and a beta of 1.34. eBay also was the recipient of unusually large options trading on Wednesday. Traders purchased 2,194 put options on the stock. This is an increase of approximately 231% compared to the average volume of 663 put options.

eBay (NASDAQ:EBAY) last posted its earnings results on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.45. eBay had a return on equity of 17.50% and a net margin of 80.93%. The firm had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the company earned $0.43 EPS. eBay’s revenue was up 4.4% on a year-over-year basis. On average, analysts forecast that eBay will post $2.00 earnings per share for the current year.

eBay declared that its board has approved a stock buyback program on Thursday, July 20th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the e-commerce company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

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In related news, SVP Stephen Fisher sold 11,956 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $36.24, for a total value of $433,285.44. Following the transaction, the senior vice president now owns 89,740 shares in the company, valued at $3,252,177.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert Holmes Swan sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $37.51, for a total value of $937,750.00. Following the completion of the transaction, the director now owns 262,119 shares in the company, valued at approximately $9,832,083.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,238 shares of company stock worth $3,439,297. Insiders own 6.78% of the company’s stock.

Several large investors have recently added to or reduced their stakes in EBAY. Captrust Financial Advisors acquired a new position in shares of eBay in the second quarter worth about $108,000. BB&T Investment Services Inc. bought a new stake in eBay in the second quarter valued at about $119,000. Westside Investment Management Inc. increased its holdings in eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after buying an additional 2,638 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new stake in eBay in the second quarter valued at about $123,000. Finally, FNY Partners Fund LP increased its holdings in eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock valued at $127,000 after buying an additional 3,300 shares during the last quarter. Institutional investors and hedge funds own 84.91% of the company’s stock.

About eBay

eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.

Analyst Recommendations for eBay (NASDAQ:EBAY)

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