JPMorgan Chase & Co. Issues Positive Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price objective upped by JPMorgan Chase & Co. from $58.00 to $60.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the e-commerce company’s stock.

Other equities analysts also recently issued research reports about the company. Citigroup upped their price objective on eBay from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Wells Fargo & Company increased their target price on eBay from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Thursday. Barclays set a $72.00 target price on eBay and gave the stock an “overweight” rating in a research report on Thursday. Piper Sandler increased their target price on eBay from $64.00 to $67.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Robert W. Baird dropped their target price on eBay from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, eBay presently has a consensus rating of “Hold” and a consensus price target of $65.33.

eBay Price Performance

eBay stock opened at $64.74 on Thursday. eBay has a 12 month low of $48.04 and a 12 month high of $71.61. 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 business’s 50 day simple moving average is $66.22 and its 200 day simple moving average is $63.78. The company has a market cap of $31.01 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 2.22 and a beta of 1.35.

eBay Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from eBay’s previous quarterly dividend of $0.27. eBay’s dividend payout ratio is currently 29.07%.

Insider Activity at eBay

In related news, CEO Jamie Iannone sold 5,625 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $67.25, for a total value of $378,281.25. Following the transaction, the chief executive officer now owns 530,998 shares of the company’s stock, valued at $35,709,615.50. This represents a 1.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Cornelius Boone sold 3,989 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $65.20, for a total value of $260,082.80. Following the transaction, the senior vice president now directly owns 71,469 shares in the company, valued at $4,659,778.80. This trade represents a 5.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,149 shares of company stock valued at $1,746,065 over the last 90 days. 0.38% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its stake in shares of eBay by 2.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 53,580 shares of the e-commerce company’s stock valued at $3,489,000 after buying an additional 1,063 shares during the last quarter. Kestra Investment Management LLC grew its stake 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 valued at $692,000 after buying an additional 7,074 shares during the last quarter. Trustmark National Bank Trust Department bought a new position in shares of eBay during the third quarter valued at about $1,307,000. Prospera Financial Services Inc boosted its holdings in shares of eBay by 794.2% during the third quarter. Prospera Financial Services Inc now owns 70,616 shares of the e-commerce company’s stock worth $4,598,000 after purchasing an additional 62,719 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of eBay by 5,091.9% during the fourth 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. 87.48% of the stock is owned by institutional investors.

eBay Company Profile

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.