eBay (NASDAQ:EBAY) Price Target Raised to $72.00

eBay (NASDAQ:EBAY - Get Free Report) had its price target raised by equities researchers at Morgan Stanley from $70.00 to $72.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the e-commerce company's stock. Morgan Stanley's price objective would indicate a potential upside of 9.56% from the company's previous close.

Several other brokerages have also recently weighed in on EBAY. StockNews.com cut eBay from a "buy" rating to a "hold" rating in a report on Monday, November 11th. Needham & Company LLC restated a "buy" rating and issued a $72.00 target price on shares of eBay in a report on Thursday, October 31st. Piper Sandler lifted their price target on eBay from $64.00 to $67.00 and gave the stock an "overweight" rating in a report on Thursday, October 31st. Mizuho upped their price objective on shares of eBay from $55.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, November 5th. Finally, Truist Financial lifted their target price on shares of eBay from $58.00 to $62.00 and gave the stock a "hold" rating in a research note on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $62.96.

eBay Price Performance

Shares of eBay stock traded down $0.18 during trading hours on Monday, reaching $65.72. 4,120,157 shares of the company's stock were exchanged, compared to its average volume of 7,289,145. The business has a fifty day moving average of $63.23 and a two-hundred day moving average of $60.66. The company has a market capitalization of $31.48 billion, a P/E ratio of 16.51, a price-to-earnings-growth ratio of 2.22 and a beta of 1.35. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a 1 year low of $40.16 and a 1 year high of $71.52.

Insider Activity

In other news, SVP Cornelius Boone sold 3,989 shares of the company's stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the completion of the sale, the senior vice president now directly owns 71,469 shares of the company's stock, valued at approximately $4,659,778.80. This represents a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $59.91, for a total value of $336,993.75. Following the sale, the chief executive officer now directly owns 548,042 shares of the company's stock, valued at $32,833,196.22. The trade was a 1.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,283 shares of company stock worth $1,715,462. Corporate insiders own 0.38% of the company's stock.

Hedge Funds Weigh In On eBay

A number of large investors have recently modified their holdings of EBAY. Ameriprise Financial Inc. raised its holdings in eBay by 17.6% during the second quarter. Ameriprise Financial Inc. now owns 25,964,196 shares of the e-commerce company's stock worth $1,394,797,000 after purchasing an additional 3,880,649 shares during the last quarter. Wellington Management Group LLP acquired a new position in shares of eBay during the 3rd quarter worth $105,506,000. Altshuler Shaham Ltd purchased a new stake in shares of eBay in the 2nd quarter worth about $71,593,000. Renaissance Technologies LLC acquired a new stake in eBay in the 2nd quarter valued at about $49,924,000. Finally, Pacer Advisors Inc. raised its position in eBay by 11.5% during the second quarter. Pacer Advisors Inc. now owns 6,573,579 shares of the e-commerce company's stock worth $353,133,000 after acquiring an additional 679,528 shares during the last quarter. 87.48% of the stock is owned by hedge funds and other institutional investors.

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.