eBay (NASDAQ:EBAY) Price Target Raised to $60.00

eBay (NASDAQ:EBAY) had its target price lifted by equities research analysts at JPMorgan Chase & Co. from $58.00 to $60.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the e-commerce company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential downside of 13.22% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JMP Securities reissued a “market perform” rating on shares of eBay in a research note on Monday, December 16th. Mizuho increased their price objective on eBay from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Robert W. Baird reduced their target price on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Citigroup raised their price objective on eBay from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Finally, Morgan Stanley upped their target price on shares of eBay from $70.00 to $72.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, eBay currently has an average rating of “Hold” and an average target price of $64.21.

eBay Trading Down 2.5 %

Shares of EBAY stock opened at $69.14 on Thursday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. eBay has a twelve month low of $46.53 and a twelve month high of $71.61. The company’s 50-day moving average price is $66.24 and its 200-day moving average price is $63.67. The stock has a market cap of $33.12 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 2.22 and a beta of 1.35.

Insider Activity

In related news, SVP Cornelius Boone sold 3,989 shares of the company’s stock in a transaction on 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 owns 71,469 shares in the company, valued at $4,659,778.80. This represents a 5.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.38, for a total transaction of $350,887.50. Following the sale, the chief executive officer now owns 542,248 shares of the company’s stock, valued at approximately $33,825,430.24. This represents a 1.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 27,149 shares of company stock worth $1,746,065. Corporate insiders own 0.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of EBAY. Integrated Advisors Network LLC purchased a new stake in shares of eBay during the fourth quarter worth approximately $210,000. Ameriflex Group Inc. purchased a new stake in shares of eBay in the fourth quarter valued at about $38,000. Ascent Group LLC increased its stake in shares of eBay by 8.2% during the fourth quarter. Ascent Group LLC now owns 13,450 shares of the e-commerce company’s stock worth $833,000 after acquiring an additional 1,024 shares during the period. Mackenzie Financial Corp raised its holdings in eBay by 17.4% during the fourth quarter. Mackenzie Financial Corp now owns 105,665 shares of the e-commerce company’s stock worth $6,546,000 after purchasing an additional 15,639 shares in the last quarter. Finally, Forum Financial Management LP boosted its holdings in eBay by 43.2% in the 4th quarter. Forum Financial Management LP now owns 4,680 shares of the e-commerce company’s stock valued at $290,000 after purchasing an additional 1,411 shares in the last quarter. 87.48% of the stock is currently 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.