Citigroup Issues Pessimistic Forecast for eBay (NASDAQ:EBAY) Stock Price

eBay (NASDAQ:EBAY) had its price objective cut by Citigroup from $80.00 to $79.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the e-commerce company’s stock. Citigroup’s target price indicates a potential upside of 16.47% from the company’s previous close.

A number of other research firms also recently weighed in on EBAY. Barclays set a $72.00 target price on shares of eBay and gave the company an “overweight” rating in a research report on Thursday, February 27th. Cantor Fitzgerald increased their price objective on shares of eBay from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. UBS Group boosted their target price on shares of eBay from $66.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, February 24th. Stifel Nicolaus decreased their price target on eBay from $63.00 to $61.00 and set a “hold” rating for the company in a report on Wednesday. Finally, BMO Capital Markets lifted their price objective on eBay from $59.00 to $63.00 and gave the stock a “market perform” rating in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, eBay has a consensus rating of “Hold” and an average price target of $64.79.

eBay Trading Up 0.9 %

NASDAQ EBAY opened at $67.83 on Friday. eBay has a 12 month low of $48.52 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 firm has a market capitalization of $31.61 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 2.22 and a beta of 1.43. The business’s 50-day moving average price is $66.05 and its two-hundred day moving average price is $64.97.

Insider Transactions at eBay

In related news, CFO Stephen J. Priest sold 1,167 shares of the business’s stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $66.21, for a total transaction of $77,267.07. Following the transaction, the chief financial officer now directly owns 65,080 shares in the company, valued at approximately $4,308,946.80. The trade was a 1.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Cornelius Boone sold 3,958 shares of the company’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $67.06, for a total transaction of $265,423.48. Following the completion of the sale, the senior vice president now directly owns 94,392 shares of the company’s stock, valued at $6,329,927.52. The trade was a 4.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,310 shares of company stock worth $3,121,626 in the last quarter. 0.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of eBay during the 3rd quarter valued at $203,000. World Investment Advisors LLC bought a new position in eBay during the third quarter valued at about $2,947,000. Arvest Bank Trust Division purchased a new stake in eBay during the third quarter worth about $9,716,000. Wilmington Savings Fund Society FSB purchased a new stake in eBay during the third quarter worth about $241,000. Finally, Tidal Investments LLC raised its position in eBay by 7.5% in the third quarter. Tidal Investments LLC now owns 67,209 shares of the e-commerce company’s stock worth $4,376,000 after acquiring an additional 4,677 shares during the period. 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.