Citigroup Forecasts Strong Price Appreciation for eBay (NASDAQ:EBAY) Stock

eBay (NASDAQ:EBAY) had its price objective upped by stock analysts at Citigroup from $68.00 to $75.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the e-commerce company’s stock. Citigroup’s price objective suggests a potential upside of 21.73% from the stock’s previous close.

Several other research analysts have also commented on EBAY. JPMorgan Chase & Co. dropped their price target on eBay from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Cantor Fitzgerald restated a “neutral” rating and set a $62.00 price target on shares of eBay in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft lowered their price target on eBay from $70.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Morgan Stanley boosted their price objective on shares of eBay from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, October 25th. Finally, Truist Financial raised their target price on shares of eBay from $58.00 to $62.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Two research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $62.92.

eBay Price Performance

EBAY stock opened at $61.61 on Friday. The company has a fifty day simple moving average of $62.70 and a two-hundred day simple moving average of $60.15. eBay has a 52 week low of $40.16 and a 52 week high of $67.80. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $29.51 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 2.20 and a beta of 1.35.

Insider Activity

In other eBay news, CEO Jamie Iannone sold 5,625 shares of eBay stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $66.56, for a total value of $374,400.00. Following the transaction, the chief executive officer now owns 553,666 shares in the company, valued at $36,852,008.96. The trade was a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $66.63, for a total transaction of $77,757.21. Following the completion of the transaction, the chief financial officer now owns 65,079 shares of the company’s stock, valued at $4,336,213.77. This represents a 1.76 % 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 $1,738,975. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Foundations Investment Advisors LLC purchased a new position in eBay during the 2nd quarter worth $236,000. TD Asset Management Inc increased its holdings in shares of eBay by 1.4% during the second quarter. TD Asset Management Inc now owns 555,710 shares of the e-commerce company’s stock valued at $29,853,000 after acquiring an additional 7,912 shares in the last quarter. National Bank of Canada FI raised its position in shares of eBay by 20.3% in the 2nd quarter. National Bank of Canada FI now owns 151,043 shares of the e-commerce company’s stock valued at $7,956,000 after purchasing an additional 25,480 shares during the last quarter. Victory Capital Management Inc. boosted its stake in eBay by 12.5% in the 2nd quarter. Victory Capital Management Inc. now owns 7,536,843 shares of the e-commerce company’s stock worth $404,879,000 after purchasing an additional 838,969 shares in the last quarter. Finally, Foundry Partners LLC acquired a new stake in eBay in the 2nd quarter worth approximately $22,470,000. Hedge funds and other 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.