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6 Buys Breaking Near 52-Week Highs

EBAY Chart EBAY data by YCharts

eBay (EBAY)

Background: eBay enables trade on a local, national and international basis with local sites in numerous markets in the U.S. and country-specific sites in the United Kingdom, Canada, Germany, Austria, France, Italy, Japan, Korea and Australia. The company was founded in 1995 and is headquartered in San Jose, Calif. eBay trades an average of 10 million shares per day with a marketcap of $64 billion.

52-Week High: $50.65

eBay is once again flirting with the 52-week high made on Friday. Shares are trading for over $50 as I write and even if you expect eBay to trade around the round number of $50 for the immediate future, there is no reason not to expect the upward trend to continue.

The average analyst target price for eBay is $49.79. What does that mean now that we are above it? It means to expect analysts to raise their price targets, which of course will put the ticker in the news.

The shares are becoming a bit heated though and I would hold off until we see a dip in the price back under $50. As I stated, I expect the share price to float around $50 before moving higher. No reason not to wait and buy under $50. If it turns out that eBay never looks back and keeps going, no biggie, there are others here to pick from.

Analysts expect eBay to make about $2.03 a share for fiscal year 2012. That makes the price-to-earnings ratio about 24 and while it can go much higher, I don't believe the extra risk is worth it.

The last reported short interest is 1.3%. That's about as good as it gets for a website stock.
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