Wells Fargo & Company Issues Pessimistic Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price target cut by analysts at Wells Fargo & Company from $64.00 to $62.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the e-commerce company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 6.92% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on EBAY. JMP Securities reissued a “market perform” rating on shares of eBay in a report on Monday, December 16th. Susquehanna increased their price objective on eBay from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, March 3rd. Cantor Fitzgerald boosted their price objective on eBay from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Bank of America decreased their price objective on shares of eBay from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Stifel Nicolaus decreased their target price on shares of eBay from $64.00 to $63.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.46.

eBay Trading Down 1.2 %

NASDAQ EBAY traded down $0.81 during trading hours on Wednesday, hitting $66.61. 3,406,808 shares of the company’s stock were exchanged, compared to its average volume of 4,855,075. eBay has a 1-year low of $48.52 and a 1-year high of $71.61. The stock has a 50-day simple moving average of $67.27 and a 200 day simple moving average of $65.03. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market cap of $31.04 billion, a price-to-earnings ratio of 16.74, a PEG ratio of 2.22 and a beta of 1.45.

Insiders Place Their Bets

In other eBay news, SVP Cornelius Boone sold 3,958 shares of eBay stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total value of $265,423.48. Following the completion of the transaction, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at $6,329,927.52. The trade was a 4.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen J. Priest sold 1,033 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $64.93, for a total value of $67,072.69. Following the transaction, the chief financial officer now directly owns 65,080 shares of the company’s stock, valued at approximately $4,225,644.40. This represents a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,616 shares of company stock valued at $710,777 over the last quarter. 0.38% of the stock is owned by insiders.

Institutional Investors Weigh In On eBay

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of eBay by 2.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock valued at $3,489,000 after purchasing an additional 1,063 shares during the last quarter. Kestra Investment Management LLC grew its position in shares of eBay by 172.5% during the fourth quarter. Kestra Investment Management LLC now owns 11,175 shares of the e-commerce company’s stock worth $692,000 after acquiring an additional 7,074 shares during the last quarter. Van ECK Associates Corp boosted its stake in eBay by 5,091.9% during the 4th quarter. Van ECK Associates Corp now owns 142,051 shares of the e-commerce company’s stock worth $8,800,000 after purchasing an additional 139,315 shares during the period. Jones Financial Companies Lllp grew its position in eBay by 35.1% during the 4th quarter. Jones Financial Companies Lllp now owns 8,121 shares of the e-commerce company’s stock worth $503,000 after purchasing an additional 2,110 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in eBay in the fourth quarter valued at $8,644,000. 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.