EBay opened at $43.38 yesterday before posting solid session gaining 0.53%
- Investors eyeing potential reversal for eBay after the company outperformed its daily average volume by 259%.
- Yesterday's gains stand in contrast to eBay's slide (lasting 5 days) in which it lost 87 cents.
- EBay discloses 25 cents per share dividend to be paid on Friday, September 15th
With around 7 hours until market open on the NASDAQ, yesterday's session was notable in that after losing 1.82%, Nasdaq closed at 13,224 yesterday. 4,330 is S&P 500's close value.
While eBay went up, the Consumer Cyclical sector suffered losses and fell 1.29%.
EBay has gained 41.52% over the past year, moving away from its yearly lows around $36.81.
So far in 2023, it has been outperforming the Nasdaq by 10.43%.
The consumer-to-consumer e-commerce giant's market cap currently stands at $23.37 billion
eBay bucks the trend and ends the day higher while beating its average trading volume by 259%.
EBay last reported revenue of $2.54 billion with an EPS of 73 cents.
In comparison to previous filings, some of eBay's indicators seem to be doing better than others; its overall fundamentals are slightly under the competition average.
When analyzing eBay's indicators, the one that stands out as most significant is the company's Price-To-Earnings ratio (PE) with 18.61. It is important to keep in mind that it has been on a downtrend recently, has suffered a drop from the previous report of -73.09 , and is still below the competition average. The Price-To-Earnings ratio is the ratio of a company's share price to its earnings per share. This helps investors and analysts find out whether a company is over or undervalued. Return on equity with a value of -23%, is lower than the sector standard.
EBay has a 'Buy' fundamental rating.
Yesterday's price action generated a Japanese candlestick pattern showing a "Bullish Engulfing" pattern -- a scenario when a larger green candle engulfs a smaller red candle, at the bottom of a prevailing downtrend. Typically this is a signal of higher prices in the near term.
Trend-following investors would be interested to note that eBay made an initial breakout above its 200 day Simple Moving Average at $44.7, a potential indicator of a newly emerging bullish phase.
Price action overcame a known Fibonacci resistance level at $43.66 by around 26 cents with prices hammering out a $42.85 - $45.21 session range.
Asset volatility analysis shows that eBay's upper Bollinger Band® is at $45, this is a slight indication of a slowdown.
A study of eBay's chart reveals various key levels to watch: eBay reversed direction at $45.14 resistance zone and retreated back $1.22 below it.
With market volatility ebbing, the current technical outlook indicates eBay will remain range-bound for the immediate future.
EBay disclosed a quarterly dividend of 25 cents per share on Wednesday, July 26th that was paid on Friday, September 15th to all shareholders of record up until Friday, September 1st. Based on current prices, the company's decision thereby provides eBay investors with an annual dividend yield of 2.28%.
While eBay was bullish yesterday, the following consumer discretionary stocks underperformed: Amazon lost 4.41% yesterday and closed at $129.33. McDonald's went down 2.16%, closed at $277.2. Nike went down 2.61%, closed at $94.04. Note that Cornelius Boone, SVP, Chief People Officer of eBay, cut down his holdings in the company Tuesday by selling 4,891 shares. The SVP, Chief Product Officer of eBay, Edward Garcia, sold 425 shares for $43.63 Tuesday (transaction value of $18,543).
REGION: United States ASSET: eBay (EBAY) PREV. OPEN: $43.38 PREV. CLOSE: $43.92 PRE-MARKET: $44.26 TIME TO OPEN: 7 hours
