Morgan Stanley Lowers eBay (NASDAQ:EBAY) Price Target to $32.00

eBay (NASDAQ:EBAYGet Rating) had its price target lowered by equities researchers at Morgan Stanley from $34.00 to $32.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “underweight” rating on the e-commerce company’s stock. Morgan Stanley’s price target points to a potential downside of 29.73% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. StockNews.com began coverage on eBay in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Barclays reduced their price objective on eBay from $59.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Bank of America reduced their price objective on eBay from $54.00 to $44.00 and set a “neutral” rating for the company in a research report on Monday, October 3rd. Piper Sandler reduced their target price on eBay from $59.00 to $52.00 and set an “overweight” rating for the company in a research report on Thursday, November 3rd. Finally, Credit Suisse Group lowered their price target on shares of eBay from $56.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, November 3rd. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $50.89.

eBay Stock Down 1.0 %

Shares of eBay stock opened at $45.54 on Wednesday. The stock has a market capitalization of $24.71 billion, a P/E ratio of -414.00, a PEG ratio of 1.80 and a beta of 1.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.36. The stock has a 50 day moving average price of $43.85 and a two-hundred day moving average price of $43.17. eBay has a 12-month low of $35.92 and a 12-month high of $63.68.

eBay (NASDAQ:EBAYGet Rating) last announced its earnings results on Wednesday, November 2nd. The e-commerce company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.09. The firm had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a return on equity of 29.43% and a net margin of 0.28%. Equities analysts expect that eBay will post 3.36 earnings per share for the current year.

Insider Activity

In other news, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the transaction, the director now owns 155,248 shares of the company’s stock, valued at $6,209,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Robert Holmes Swan sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 26th. The stock was sold at an average price of $40.00, for a total transaction of $1,000,000.00. Following the transaction, the director now owns 155,248 shares of the company’s stock, valued at $6,209,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Brian J. Doerger sold 4,311 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $41.89, for a total value of $180,587.79. Following the transaction, the chief accounting officer now directly owns 9,542 shares in the company, valued at approximately $399,714.38. The disclosure for this sale can be found here. Insiders have sold 38,853 shares of company stock valued at $1,601,581 over the last 90 days. 0.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On eBay

Several large investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. increased its holdings in eBay by 11.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 38,550 shares of the e-commerce company’s stock valued at $1,598,000 after purchasing an additional 4,038 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in eBay by 140.5% in the fourth quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 37,037 shares of the e-commerce company’s stock valued at $1,536,000 after purchasing an additional 21,635 shares during the last quarter. Eagle Ridge Investment Management increased its holdings in eBay by 4.3% in the fourth quarter. Eagle Ridge Investment Management now owns 6,596 shares of the e-commerce company’s stock valued at $274,000 after purchasing an additional 269 shares during the last quarter. Ridgewood Investments LLC increased its holdings in eBay by 2.5% in the fourth quarter. Ridgewood Investments LLC now owns 17,950 shares of the e-commerce company’s stock valued at $744,000 after purchasing an additional 433 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new stake in eBay in the fourth quarter valued at about $132,000. Institutional investors and hedge funds own 85.51% of the company’s stock.

About eBay

(Get Rating)

eBay Inc operates marketplace platforms that connect buyers and sellers in the United States and internationally. The company's Marketplace platform includes its online marketplace at ebay.com and the eBay suite of mobile apps. Its platforms enable users to list, buy, sell, and pay for items through various online, mobile, and offline channels that include retailers, distributors, liquidators, import and export companies, auctioneers, catalog and mail-order companies, directories, search engines, commerce participants, shopping channels, and networks.

Further Reading

Analyst Recommendations for eBay (NASDAQ:EBAY)

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