eBay Given “Conviction-Buy” Rating at Goldman Sachs (EBAY)
eBay (NASDAQ: EBAY)’s stock had its “conviction-buy” rating restated by analysts at Goldman Sachs in a research report issued to clients and investors on Wednesday. They currently have a $63.00 price target on the stock.
The analysts wrote, “On March 28, eBay will host its biennial analyst day in San Jose. We believe the event will help alleviate investor concerns over slowing growth in the Marketplaces business and margin pressures at PayPal, while anchoring investor expectations on the company’s initial guidance for 2015. Given the recent underperformance in the stock and the impact prior analyst days have had, we believe the event will serve as a positive catalyst. Beyond next week, we continue to believe that eBay represents a compelling risk/reward.”
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities initiated coverage on shares of eBay in a research note to investors on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at Cantor Fitzgerald upgraded shares of eBay from a “hold” rating to a “buy” rating in a research note to investors on Tuesday. They now have a $56.00 price target on the stock. Finally, analysts at Argus reiterated a “buy” rating on shares of eBay in a research note to investors on Monday. They now have a $65.00 price target on the stock.
Nine investment analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $58.03.
eBay (NASDAQ: EBAY) traded up 2.70% on Wednesday, hitting $52.475. eBay has a 1-year low of $35.31 and a 1-year high of $57.27. The stock’s 50-day moving average is currently $54.65. The company has a market cap of $68.034 billion and a price-to-earnings ratio of 25.68.
eBay (NASDAQ: EBAY) last released its earnings data on Wednesday, January 16th. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.01. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter last year, the company posted $0.60 earnings per share. eBay’s revenue was up 18.1% compared to the same quarter last year. eBay has set its Q1 guidance at $0.60-0.62 EPS and its FY13 guidance at $2.70-2.75 EPS. On average, analysts predict that eBay will post $2.73 earnings per share for the current fiscal year.
eBay Inc. is a global technology company that enables commerce through three reportable segments: Marketplaces, Payments, and GSI.