eBay (EBAY) Price Target Lowered to $30.00 at Canaccord Genuity

eBay (NASDAQ:EBAY) had its target price lowered by Canaccord Genuity from $40.00 to $30.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has a neutral rating on the e-commerce company’s stock. The analysts noted that the move was a valuation call.

Other analysts have also recently issued research reports about the company. Guggenheim reissued a $37.95 rating on shares of eBay in a research report on Wednesday, July 18th. UBS Group lowered their price objective on eBay from $47.00 to $44.00 and set a $34.11 rating for the company in a research report on Thursday, July 19th. TheStreet cut eBay from a b- rating to a c+ rating in a research report on Wednesday, October 24th. Wells Fargo & Co reissued a buy rating on shares of eBay in a research report on Thursday, July 19th. Finally, Morgan Stanley lowered their price objective on eBay from $58.00 to $55.00 and set a $34.11 rating for the company in a research report on Thursday, July 19th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and fourteen have assigned a buy rating to the stock. eBay has an average rating of Hold and a consensus target price of $40.97.

EBAY opened at $29.87 on Wednesday. The firm has a market cap of $28.76 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.70 and a beta of 1.32. eBay has a 52 week low of $26.36 and a 52 week high of $46.99. The company has a current ratio of 1.74, a quick ratio of 2.37 and a debt-to-equity ratio of 1.11.

eBay (NASDAQ:EBAY) last released its quarterly earnings data on Tuesday, October 30th. The e-commerce company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The company had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.65 billion. eBay had a positive return on equity of 23.65% and a negative net margin of 7.93%. eBay’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. On average, equities research analysts forecast that eBay will post 1.84 EPS for the current fiscal year.

In other eBay news, VP Brian J. Doerger sold 4,811 shares of eBay stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $34.05, for a total transaction of $163,814.55. Following the completion of the transaction, the vice president now owns 34,644 shares in the company, valued at approximately $1,179,628.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jae Hyun Lee sold 47,739 shares of eBay stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $34.15, for a total value of $1,630,286.85. Following the transaction, the senior vice president now owns 73,700 shares of the company’s stock, valued at approximately $2,516,855. The disclosure for this sale can be found here. Insiders have sold a total of 103,994 shares of company stock valued at $3,571,245 in the last quarter. Company insiders own 6.78% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in EBAY. CSat Investment Advisory L.P. purchased a new position in shares of eBay in the 2nd quarter valued at about $106,000. Valeo Financial Advisors LLC purchased a new position in shares of eBay in the 2nd quarter valued at about $107,000. NEXT Financial Group Inc purchased a new position in shares of eBay in the 3rd quarter valued at about $130,000. Stratos Wealth Partners LTD. purchased a new position in shares of eBay in the 3rd quarter valued at about $144,000. Finally, JNBA Financial Advisors increased its stake in shares of eBay by 567.5% in the 3rd quarter. JNBA Financial Advisors now owns 4,512 shares of the e-commerce company’s stock valued at $149,000 after purchasing an additional 3,836 shares in the last quarter. Institutional investors and hedge funds own 84.50% of the company’s stock.

eBay Company Profile

eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.

Featured Story: Momentum Indicator: Relative Strength Index

The Fly

Analyst Recommendations for eBay (NASDAQ:EBAY)

Receive News & Ratings for eBay Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for eBay and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply