eBay ( (EBAY) ) has fallen by -7.77%. Read on to learn why.
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eBay’s stock has experienced a notable decline of 7.77% over the past week, drawing attention from investors and analysts alike. The bearish sentiment surrounding the stock is underscored by a significant increase in put options trading, with a Put/Call Ratio of 3.56, indicating more bets on the stock’s decline. This activity suggests that traders are anticipating further downward movement in eBay’s stock price.
Analysts have maintained a cautious stance on eBay, with several reiterating a Hold rating. Deepak Mathivanan from Cantor Fitzgerald and Justin Post from Bank of America Securities both emphasized this position, with price targets set at $85 and $101, respectively. The analyst consensus remains a Moderate Buy, yet the average price target of $89.46 implies a potential downside from current levels, reflecting the market’s mixed outlook on the company’s future performance.
Adding to the pressure on eBay’s stock is the negative sentiment from corporate insiders, as there has been a noticeable increase in insider selling. Notably, Rebecca Spencer, eBay’s VP & CAO, recently sold shares worth $227,695. This insider activity, combined with the bearish options trading, paints a challenging picture for eBay as it approaches its upcoming earnings report on October 29th.