Today’s big question for investors is, “what’s going on with eBay Inc. (NASDAQ:EBAY) stock? Its price is jumping 0.94 points, trading at $38.13 levels, and is up 2.54% from its previous close of $37.19. The shares seem to have an active trading volume day with a reported 4452527 contracts so far this session. EBAY shares had a relatively better volume day versus average trading capacity of 9.9 million shares, but with a 0.76 billion float and a -2.13% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for EBAY stock indicates that the average analyst price target is $38.73 per share. This means the stock has a potential increase of 1.57% from where the EBAY share price has been trading recently.
During the recent trading session for eBay Inc. (NASDAQ:EBAY), the company witnessed their stock rise $1.79 over a week and surge $2.07 from the price 20 days ago. When compared to their established 52-week high of $42, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 07/18/19. The recent low of $33.53 stood for a -9.2% since 01/31/20, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.39 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for eBay Inc., the two-week RSI stands at 61.79. This figure suggests that EBAY stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current EBAY readings is similarly very revealing as it has a stochastic reading of 68.41% at this stage. This figure means that EBAY share price today is being neutral.
Technical chart claims that eBay Inc. (EBAY) would settle between $37.41/share to $37.62/share level. However, if the stock price goes below the $36.84 mark, then the market for eBay Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $36.48 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.39. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Canaccord Genuity lifted target price for shares of EBAY but were stick to Hold recommendation for the stock in their opinion released on January 29. The price target has been raised from $40 to $38. Wells Fargo analysts have lowered their rating of eBay Inc. (NASDAQ:EBAY) stock from Equal Weight to Underweight in a separate flash note issued to investors on January 17. Analysts at Jefferies lowered the stock to a Underperform call from its previous Hold recommendation, in a research note that dated back to January 09.
EBAY equity has an average rating of 2.73, with the figure leaning towards a bullish end. 33 analysts who tracked the company were contacted by Reuters. Amongst them, 20 rated the stock as a hold while the remaining 13 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated eBay Inc. (NASDAQ:EBAY) as a buy or a strong buy while 4 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, EBAY stock price is currently trading at 11.21X forward 12-month Consensus EPS estimates, and its P/E ratio is 17.7 while for the average stock in the same group, the multiple is 58. eBay Inc. current P/B ratio of 10.3 means it is trading at a discount against its industry’s 11.9.