In a research report issued today, Baird’s top analyst Colin Sebastian reiterated an Outperform rating on shares of eBay Inc (NASDAQ:EBAY), with a price target of $30, as results from a recent survey suggest relatively steady mid-single-digit Y/Y growth on in May, and largely in line with March and April monthly trends. Shares of eBay closed today at $24.28, up $0.29 or 1.21%.

Sebastian wrote, “Our proprietary eBay Tracker shows May volumes grew in the mid-single-digit range year-over-year, generally consistent with our April results. With April and May data combined, we believe that Q2 GMV is on track for eBay, although we have yet to see a meaningful boost from recent structured data and product page improvements.”

“While there were some concerns after some negative third-party data in April for eBay (ChannelAdvisor), our Tracker suggests eBay’s Q2 is tracking in line to potentially slightly above our 3% GMV growth estimate. However, we note that eBay’s growth overall still lags broader e-commerce trends (low-teens growth) as investments in structured data and seller policies have yet to drive accelerating volumes, a more likely outcome in 2H-16,” the analyst added.

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Colin Sebastian has a yearly average return of 16% and a 71% success rate. Sebastian has a 9% average return when recommending EBAY, and is ranked #23 out of 3990 analysts.

Out of the 16 analysts polled by TipRanks (in the past 3 months), 6 rate eBay stock a Buy, 8 rate the stock a Hold and 2 recommend a Sell. With a return potential of 15%, the stock’s consensus target price stands at $27.89.