eBay Inc. (NASDAQ: EBAY) Receives Price Target Increase at Axiom Securities

eBay Inc. (NASDAQ: EBAY) had its price target raised by equities researchers at Axiom Securities from $34.00 to $38.00. The company currently has a rating of Buy on the stock. A number of other analysts have spoken on the stock in recent days, and eBay Inc. has earned a consensus one-year price target of $31.20, lower than the opening price of $32.16, a difference of 9.78 percent. eBay Inc. stock has a 52-week high of $32.81.

U.S. stocks finished sharply lower on Tuesday as equities amid a slump in energy shares and continued uncertainty about the Federal Reserve’s plans for monetary policy.

The Dow Jones Industrial Average DJIA, -1.41% closed 258.05 points, or 1.4%, lower at 18,066.89, and was down nearly 300 points at its lowest.

The S&P 500 index SPX, -1.48% gave up 32.02 points, or 1.5%, at 2,127.02.

Meanwhile, the Nasdaq Composite Index COMP, -1.09% fell 56.63 points, or 1.1%, at 5,155.25.

Stock prices often move to the upside on recommendations and new price targets of professional analysts.

Shares of eBay Inc. (NASDAQ: EBAY) opened at $32.16 yesterday and traded in a range between, $31.71 and $32.29, and last traded at $31.91, which represents a change of $ -0.58 over the previous closing price.

eBay Inc. (NASDAQ: EBAY) currently has a market cap of 36.03B

The stocks average daily volume is 11,026,300 shares out of a total float 1,054,921,000 and some 9,453,249 shares crossed the trading desk yesterday, 84 percent lower than normal. Look for trading volume to pick up in the coming days as momentum traders often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.

As with all potential breakouts, investors look for volume to be at least 40%-50% higher than normal on the breakout to show that fund managers and other professional investors are jumping in.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These professional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you’re considering.

By tracking the activity of these professional investors—and the moving averages they affect—it allows for traders to make more effective decisions on trades.

With that in mind eBay Inc. (NASDAQ: EBAY) now has a 50-day MA is $31.37 and 200-day MA is $26.14, and it has traded in a 52-week range between $21.52 – 32.81 and today’s last price is -2.74 percent off the 52 week high of $32.81.

Earnings growth is an important factor toresearch when investing in stocks and investors look for companies that have grown their earnings at least 25% or more for the past 3 years.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of BNB Daily News. Readers should not consider statements made by the author as formal recommendations and should consult their financial adviser before making any investment decisions. To read our full disclosure, please see our terms and conditions page.

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