Analysts at Hilliard Lyons initiated coverage on eBay Inc. (NASDAQ: EBAY) stock, starting the company at Long-Term Buy and a price target of $35.00. As a means of comparison, a number of other analysts have commented on the stock recently, and the company has earned a consensus one-year price target of $31.20, lower than the opening price of $31.46. eBay Inc.stock has a 52-week high of $32.03.
Stock suffered moderate losses yesterday across the board on the heels of Monday’s gains.
The Dow Jones Industrial Average lost 49 points, or 0.26 percent, to close at 18,454.The S&P 500 shed 4 points, or 0.20 percent, to finish at 2,176.The Nasdaq lost 9 points, or 0.18 percent, to close at 5,223.
NYMEX crude oil futures lost 1.21 percent to $46.41 while Brent contracts shed 1.64 percent and were last trading at $48.45.
Share prices sometimes get a bounce to the upside when analysts inititate coverage.
Shares of eBay Inc. (NASDAQ: EBAY) opened at $31.46 and traded in a range between, $31.36 and $32.03 yesterday, and last traded at $31.77, which represents a change of $ 0.37 over the previous closing price.
eBay Inc. (NASDAQ: EBAY) now has a market cap of 35.87B
The stocks average daily volume is 10,870,100 shares out of a total float 1,054,853,000 of and some 9,800,132 shares crossed the trading desk yesterday, 107 percent lower than normal. Look for trading volume to pick up in the coming days as investors often use swings in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for short periods will not mean much will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts researching thousands of stocks, so it is good confirmation to see them buying a stock you are 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 $30.05 and 200-day MA is $25.63, and it has traded in a 52-week range between $21.51 – 32.03 and today’s last price is -0.81 percent off the 52 week high.
Indeed, earnings growth is among the most important things to look in regards to stock investing and, accordingly, investors seek companies who have been successful at growing their earnings by at least 25 percent over a 3 year period.
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