Analyst Update: eBay Inc, iRobot Corporation, and Qorvo Inc

Analysts revised their ratings and price targets on eBay Inc (EBAY), iRobot Corporation (IRBT), and Qorvo Inc (QRVO)

Apr 27, 2016 at 2:05 PM
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Analysts are weighing in on e-commerce stock eBay Inc (NASDAQ:EBAY), advanced electronics issue iRobot Corporation (NASDAQ:IRBT), and semiconductor specialist Qorvo Inc (NASDAQ:QRVO). Here's a quick roundup of today's brokerage notes on EBAY, IRBT, and QRVO.

  • EBAY has jumped 3.3% to trade at $25.29, after the e-commerce platform announced better-than-expected earnings. The quarterly results prompted a mixed round of analyst attention, with Canaccord Genuity, Jefferies, Benchmark, and Wedbush each raising its price target, while RBC, Macquarie, and J.P. Morgan Securities cut theirs.  Earlier, eBay Inc soared as high as $26.21 to hit its 200-day moving average for the first time since late January -- prior to a massive earnings-induced bear gap. Options traders are likely loving today's bullish price action, having bought to open 10.42 calls for every put during the last two weeks at the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). Notably, that call/put volume ratio ranks in the 93rd percentile of its annual range.
  • IRBT has rocketed 7.9% higher to trade at $37.52, helped by an earnings win. Reacting to the upbeat results, J.P. Morgan Securities lifted its price target to $30 from $28, and Jefferies boosted its outlook to $35 from $30. Earlier, in fact, iRobot Corporation shot to an annual high of $38.15. Given this banner performance, bearish options traders may be feeling the heat. IRBT's 10-day ISE/CBOE/PHLX put/call volume ratio registers at a 12-month peak of 16.93.
  • Raymond James and Needham -- which also weighed in on this Apple Inc. (NASDAQ:AAPL) supplier -- cut their respective price targets on QRVO to $51 and $50. However, at last check, the stock was just 0.3% lower at $46.18. In recent weeks, Qorvo Inc has been consolidating in the $44-$48 area, and recently slipped below its 50-day moving average -- which could act as resistance going forward. Options traders are probably counting on it. Based on data from the ISE, CBOE, and PHLX, speculators have bought to open 5.86 puts for each call during the last 10 sessions, and the corresponding put/call volume ratio ranks just 4 percentage points from a 12-month high.
For other stocks in analysts' crosshairs, read Analyst Upgrades: AT&T Inc., Cree, Inc., and Fortinet Inc and Analyst Downgrades: Apple Inc., Buffalo Wild Wings, and Twitter Inc.

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