eBay (NASDAQ:EBAY) Price Target Raised to $61.00

eBay (NASDAQ:EBAY) had its price target upped by equities researchers at Wells Fargo & Company from $59.00 to $61.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s price target suggests a potential downside of 9.07% from the stock’s current price.

A number of other analysts also recently commented on EBAY. Jefferies Financial Group downgraded eBay from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $60.00 to $52.00 in a research note on Tuesday, December 10th. Wedbush started coverage on shares of eBay in a research report on Monday, December 9th. They issued a “neutral” rating and a $70.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of eBay from $56.00 to $64.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Needham & Company LLC reissued a “buy” rating and set a $72.00 target price on shares of eBay in a research note on Thursday, October 31st. Finally, Robert W. Baird dropped their price target on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.92.

eBay Price Performance

Shares of eBay stock traded down $0.40 on Monday, hitting $67.08. The company had a trading volume of 915,509 shares, compared to its average volume of 4,791,559. eBay has a 52 week low of $40.74 and a 52 week high of $71.52. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.25 and a quick ratio of 1.25. The company has a market cap of $32.13 billion, a PE ratio of 16.82, a PEG ratio of 2.15 and a beta of 1.35. The business has a 50-day simple moving average of $64.46 and a 200-day simple moving average of $61.96.

Insider Transactions at eBay

In other news, SVP Cornelius Boone sold 3,989 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $65.20, for a total transaction of $260,082.80. Following the completion of the transaction, the senior vice president now directly owns 71,469 shares in the company, valued at $4,659,778.80. The trade was a 5.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen J. Priest sold 1,033 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $64.93, for a total transaction of $67,072.69. Following the completion of the sale, the chief financial officer now owns 65,080 shares in the company, valued at approximately $4,225,644.40. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,524 shares of company stock worth $1,367,784. Company insiders own 0.38% of the company’s stock.

Institutional Trading of eBay

A number of hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC bought a new position in eBay in the fourth quarter worth $27,000. Quarry LP acquired a new stake in shares of eBay during the 3rd quarter valued at about $36,000. New Wave Wealth Advisors LLC bought a new stake in eBay in the fourth quarter valued at about $36,000. USA Financial Formulas acquired a new position in eBay in the third quarter worth about $38,000. Finally, Northwest Investment Counselors LLC bought a new position in eBay during the third quarter worth about $50,000. Institutional investors own 87.48% of the company’s stock.

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.