Baird Shares Two Cents on eBay Inc (EBAY) Following 2Q Results


In a research report released today, Baird analyst Colin Sebastian reiterated an Outperform rating on eBay Inc (NASDAQ:EBAY) shares, with a price target of $38, after the e-commerce giant reported second-quarter results largely in line with expectations, with acceleration in core Marketplace performance partially offset by weaker StubHub performance.

Sebastian wrote, “Management remains optimistic on the pacing of the structured data rollout, and we continue to see room for revenue and EPS upside as the benefits of these initiatives materialize to a greater degree. While early, initial feedback on eBay’s new brand advertising campaign is positive, and management highlighted improvements in new buyer activity, seller additions, and new product listings helping to drive higher conversion rates. We anticipate a modest acceleration to mid/high-single digit U.S. Marketplace GMV growth through 2H17 corresponding to the platform improvements, offsetting significant deceleration in StubHub growth, a result of tough comps and a relatively weak events landscape.”¬†(To watch¬†Sebastian’s track record, click here)

Out of the 29 analysts polled in the past 12 months, 13 rate Ebay Inc stock a Buy, 14 rate the stock a Hold and 2 recommend Sell. With a downside potential of 2.0%, the stock’s consensus target price stands at $36.43.