Analyst Daniel Kurnos of Benchmark Co. maintained a Buy rating on eBay, boosting the price target to $100.00.
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Daniel Kurnos has given his Buy rating due to a combination of factors that highlight eBay’s strong performance and potential for growth. eBay exceeded expectations in the second quarter, significantly outperforming their own guidance and providing a positive outlook for the third quarter. This performance is notable given the broader consumer market warnings, and eBay’s growth in Gross Merchandise Volume (GMV) suggests a return to mid-single-digit growth rates.
Additionally, eBay’s advertising efforts and various initiatives are contributing to improved engagement and conversion rates. The company has shown impressive growth in specific categories like collectibles and Motors, Parts & Accessories, which have been areas of focus and investment. Despite some anticipated challenges, such as tariff impacts, eBay’s international performance also surpassed expectations. Overall, these factors, combined with a potential for further growth and innovation, support the Buy rating.
In another report released today, BMO Capital also upgraded the stock to a Buy with a $102.00 price target.
Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of EBAY in relation to earlier this year.