eBay Inc (NASDAQ:EBAY) has been assigned a $24.00 price target by Morgan Stanley in a research note issued to investors on Thursday, Market Beat reports. The brokerage currently has a a “neutral” rating on the e-commerce company’s stock. Morgan Stanley’s price objective suggests a potential downside of 9.16% from the stock’s previous close.

Other hedge funds have bought and sold shares of the company. Independent Franchise Partners LLP increased its stake in eBay by 2.0% in the fourth quarter. Independent Franchise Partners LLP now owns 19,375,669 shares of the e-commerce company’s stock valued at $532,443,000 after buying an additional 380,902 shares during the last quarter. Nordea Investment Management AB increased its stake in eBay by 14.9% in the fourth quarter. Nordea Investment Management AB now owns 6,035,444 shares of the e-commerce company’s stock valued at $165,854,000 after buying an additional 783,340 shares during the last quarter. Cambiar Investors LLC increased its stake in eBay by 198.2% in the fourth quarter. Cambiar Investors LLC now owns 3,977,254 shares of the e-commerce company’s stock valued at $109,295,000 after buying an additional 2,643,554 shares during the last quarter. Russell Frank Co increased its stake in eBay by 106.3% in the fourth quarter. Russell Frank Co now owns 3,589,184 shares of the e-commerce company’s stock valued at $99,615,000 after buying an additional 1,849,213 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its stake in eBay by 6.2% in the fourth quarter. Gateway Investment Advisers LLC now owns 1,165,935 shares of the e-commerce company’s stock valued at $32,040,000 after buying an additional 68,074 shares during the last quarter.

Other equities research analysts also recently issued reports about the stock. Citigroup Inc. boosted their price target on shares of eBay to $34.00 in a research note on Friday, November 13th. Argus reissued a “buy” rating and set a $28.95 price target (down from $33.00) on shares of eBay in a research note on Thursday, November 12th. JPMorgan Chase & Co. reissued a “buy” rating on shares of eBay in a research note on Thursday, October 29th. Zacks Investment Research raised shares of eBay from a “hold” rating to a “buy” rating and set a $32.00 price target for the company in a research note on Tuesday, October 27th. Finally, Axiom Securities reissued a “buy” rating and set a $34.00 price target on shares of eBay in a research note on Saturday, October 24th. One investment analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $41.67.

In related news, SVP Jae Hyun Lee sold 20,000 shares of eBay stock in a transaction on Monday, November 30th. The shares were sold at an average price of $29.25, for a total value of $585,000.00. Following the completion of the sale, the senior vice president now owns 88,534 shares of the company’s stock, valued at approximately $2,589,619.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Paul S. Pressler purchased 5,140 shares of eBay stock in a transaction that occurred on Monday, November 30th. The stock was acquired at an average cost of $29.12 per share, with a total value of $149,676.80. Following the transaction, the director now owns 5,140 shares in the company, valued at approximately $149,676.80. The disclosure for this purchase can be found here.

eBay (NASDAQ:EBAY) traded down 12.964% during trading on Thursday, reaching $22.995. 25,021,574 shares of the company were exchanged. The firm has a market cap of $27.61 billion and a price-to-earnings ratio of 12.504. eBay has a 52-week low of $22.11 and a 52-week high of $29.83. The firm has a 50-day moving average of $26.96 and a 200-day moving average of $27.17.

eBay (NASDAQ:EBAY) last posted its quarterly earnings results on Wednesday, January 27th. The e-commerce company reported $0.50 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.50. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.32 billion. The company’s quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the firm earned $0.55 earnings per share. On average, equities analysts forecast that eBay will post $1.83 EPS for the current year.

eBay Inc.(NASDAQ:EBAY) is a global technology company. The Company has created an open source platform that provides software developers and merchants access to its applications programming interfaces (APIs), to develop software and solutions for commerce. The Company enables commerce through two segments: Marketplaces and Payments. The Company’s Marketplaces segment includes its ebay.com platform and its localized counterparts and its other online platforms, such as its online classifieds sites and StubHub. The Company’s Payments segment consists of its PayPal business.

12 Month Chart for NASDAQ:EBAY

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