The stock of eBay Inc. (NASDAQ:EBAY) is now priced at $54.27 and the shares are -2.04 points down or -3.62% lower compared to its previous closing price of $56.31. The stock had 12.445 million contracts set over the past session. EBAY shares’ daily volume is compared to its average trading volume at 10.327 million shares. However, it has a float of 665 million and although its performance was -6.76% over the week, it’s one to watch. Analysts have given the EBAY stock a yearly average price target of $61.75 per share. It means the stock’s upside potential is 13.78% with the EBAY share price recently placing at $54.05 to $56.26. However, some brokerage firms have priced the stock below the average, including one that has called $49.
The shorts are climbing into the eBay Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the EBAY shares have risen. Short interest in the stock represents just 3.36% of its float, but the volume has raised by 5989934. The volume of shorted shares rised to 22.346 million from 16.356 million shares over the last two weeks. The average intraday trading volume has been 6.753 million shares, which means that days to cover moved to roughly 3.309282.
In the last trading session, eBay Inc. (NASDAQ:EBAY) dropped by -$3.94 over the week and lost -$1.01 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $61.06. The stock recorded its established 52-week high on 07/13/20.
Since 03/23/20, the stock has traded to a low of $26.02 at 108.57%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.37. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, eBay Inc.’s two-week RSI is 41.7. This suggests that the stock is neutral at the moment and that EBAY shares’ price movement remains stable. The stochastic readings are equally revealing at 50.12% meaning the EBAY share price is currently in neutral territory.
The technical chart shows that the EBAY stock will likely settle at between $55.67 and $57.07 per share. However, if the stock dips below $53.46, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $52.65.
Currently, the stock is trading in the red of MACD, with a reading of -1.01. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at CFRA raised their recommendation for EBAY from Sell to Hold in August 20 review. Deutsche Bank analysts upgraded their recommendation of the stock from Hold to Buy while keeping its target price at $57 in a flash note released to investors on June 26. Jefferies seeing the improvements upgraded the stock from Underperform to Hold on June 10, placing it at $30 to $52.
The average rating for the EBAY equity is 2.51 and is currently gathering a bullish momentum. Of 33 analysts tracking eBay Inc. polled by Reuters, 21 rated EBAY as a hold. The remaining 12 analysts were split evenly. However, the split wasn’t equal as a majority (12) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the EBAY stock price is 13.71X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 19.8 below the group’s average of 69.3. eBay Inc. has its P/E ratio at 13.1, which means that the stock is currently trading at a discount relative to the 15.2 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for eBay Inc. (NASDAQ:EBAY) will decrease by about -5.2%, which will see them reach $2700 million. The company’s full-year revenues are, however, expected to diminish by about 0.09%, down from $10700 million to $10700 million. EBAY’s expected adjusted earnings should surge almost 28.36% to end up at $0.86 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 26.5% to record $3.58/share.