Equities researchers at Morgan Stanley (NYSE: MS) increased their target price on shares of eBay (NASDAQ: EBAY) from $45.00 to $49.00 in a report issued on Tuesday.
The analysts wrote, “The long-term winners in eCommerce will likely be those that can leverage both a high-traffic destination site with a global fulfillment network. The quest for eCommerce GMV should have multiple winners, Amazon.com ($212.89) and eBay ($40.35) being two of them, in our view. Raising eBay PT to $49 and reiterate our OW rating.”
Shares of eBay traded up 2.55% during mid-day trading on Tuesday, hitting $41.38. eBay has a one year low of $26.86 and a one year high of $41.84. The company has a market cap of $53.431 billion and a P/E ratio of 15.87.
eBay last issued its quarterly earnings data on Wednesday, April 18th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The company’s revenue for the quarter was up 28.7% on a year-over-year basis. On average, analysts predict that eBay will post $0.55 earnings per share next quarter.
A number of other analysts have also recently weighed in on EBAY. Analysts at Topeka Capital initiated coverage on shares of eBay in a research note to investors on Tuesday, May 15th. They set a “hold” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of eBay in a research note to investors on Monday, May 7th. They now have a $41.00 price target on the stock. Finally, analysts at Stifel Nicolaus raised their price target on shares of eBay from $42.00 to $43.00 in a research note to investors on Thursday, April 19th.
eBay Inc. (eBay) is a global commerce platform. The Company enables commerce through three reportable segments: Marketplaces, Payments and GSI Commerce (GSI).
