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eBay shares rise after Citigroup price target hike to $130
The stock traded at $103.29, rebounding from three-month lows, while analysts remain mostly cautious with 19 of 31 brokerages rating it hold or worse.
eBay shares rose about 1% to $103.29 after Citigroup raised its price target on the stock to $130 from $127, helping the shares bounce off last session's three-month lows, according to Yahoo Finance.
The article notes eBay has been capped near the $120 area, just below its May 20 record high of $119.31, as analysts have leaned bearish despite the stock’s 18.7% year-to-date gain.
Schaeffer’s analysis cited by Yahoo Finance points to the stock trading within 0.75 times the 126-day moving averages’ 20-day average true range, after spending at least 80% of recent sessions above the trendline. It also says the setup has appeared 12 times over the last decade, with the shares higher one month later 75% of the time, averaging a 5.5% gain.
Option indicators referenced by Yahoo Finance include eBay’s Schaeffer’s Volatility Index at 32%, positioned in the 20th percentile of its annual range, while broker coverage remains mixed, with 19 of 31 firms carrying a hold or worse rating.