eBay Inc. (NASDAQ:EBAY) Downgraded to C+ at TheStreet

TheStreet downgraded shares of eBay Inc. (NASDAQ:EBAY) from a b- rating to a c+ rating in a research note issued to investors on Friday, July 14th.

A number of other research firms have also recently weighed in on EBAY. Credit Suisse Group raised shares of eBay from a neutral rating to an outperform rating and boosted their target price for the stock from $34.00 to $44.00 in a research note on Monday, June 5th. Robert W. Baird reaffirmed an outperform rating on shares of eBay in a research note on Monday, July 3rd. Royal Bank Of Canada reaffirmed a hold rating and set a $34.00 target price on shares of eBay in a research note on Thursday, April 13th. BidaskClub raised shares of eBay from a buy rating to a strong-buy rating in a research note on Thursday, July 13th. Finally, Citigroup Inc. reiterated a buy rating and set a $41.00 price target (up previously from $36.00) on shares of eBay in a report on Thursday, June 8th. Three equities research analysts have rated the stock with a sell rating, twenty have given a hold rating and seventeen have assigned a buy rating to the company’s stock. eBay has an average rating of Hold and a consensus target price of $36.97.

eBay (EBAY) opened at 35.05 on Friday. The stock has a 50 day moving average price of $35.76 and a 200-day moving average price of $34.20. eBay has a 12-month low of $27.28 and a 12-month high of $37.48. The stock has a market capitalization of $37.51 billion, a P/E ratio of 5.26 and a beta of 1.36.

eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Thursday, July 20th. The e-commerce company reported $0.45 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.45. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.31 billion. eBay had a net margin of 80.93% and a return on equity of 17.50%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Equities research analysts expect that eBay will post $2.01 EPS for the current year.

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eBay declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 20th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the e-commerce company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

In related news, Director Kathleen C. Mitic sold 11,897 shares of eBay stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $33.84, for a total transaction of $402,594.48. Following the completion of the transaction, the director now directly owns 20,162 shares of the company’s stock, valued at approximately $682,282.08. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Harry A. Lawton III sold 13,000 shares of eBay stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $35.93, for a total transaction of $467,090.00. Following the completion of the transaction, the senior vice president now directly owns 45,488 shares of the company’s stock, valued at $1,634,383.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,303 shares of company stock valued at $2,560,022. 6.78% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in shares of eBay during the second quarter valued at about $108,000. Westside Investment Management Inc. boosted its position in shares of eBay by 284.0% in the first quarter. Westside Investment Management Inc. now owns 3,567 shares of the e-commerce company’s stock valued at $121,000 after buying an additional 2,638 shares during the period. FNY Partners Fund LP raised its stake in shares of eBay by 660.0% in the first quarter. FNY Partners Fund LP now owns 3,800 shares of the e-commerce company’s stock worth $127,000 after buying an additional 3,300 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of eBay by 25.5% in the first quarter. Parallel Advisors LLC now owns 4,221 shares of the e-commerce company’s stock worth $140,000 after buying an additional 858 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of eBay by 100.5% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,450 shares of the e-commerce company’s stock worth $149,000 after buying an additional 2,230 shares in the last quarter. 86.48% of the stock is owned by institutional investors and hedge funds.

eBay Company Profile

eBay Inc (eBay) is a commerce company, which operates through its Marketplace, StubHub and Classifieds platforms. The Company connects buyers and sellers around the world. Its platforms enable sellers around the world to organize and offer their inventory for sale, and buyers to find and purchase it.

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