Ebay (EBAY) Receives a Buy from Benchmark Co.


Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on Ebay (EBAY) today and set a price target of $42. The company’s shares closed yesterday at $36.23.

Kurnos commented:

“We acknowledge that it is possible the Company could derive some incremental upside from the Advertising channel but feel the likelier outcome would be more of a wash from incremental pressure on GMV due to a further rationalization of marketing spend. We do note that eBay did spend during some high profile sporting events through 2Q, particularly on mobile, but believe that overall volume, particularly on broadcast, was way down. As such, we feel less confident in the mid-point of revenue guidance at $2.575 billion vs. our $2.56 billion estimate but suspect there could be a penny or so of upside vs. the $0.63 mid-point and consensus.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 13.9% and a 58.8% success rate. Kurnos covers the Services sector, focusing on stocks such as Nexstar Media Group Inc, Booking Holdings Inc, and Sinclair Broadcast.

Ebay has an analyst consensus of Moderate Buy, with a price target consensus of $38.63.

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Based on Ebay’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.85 billion and net profit of $760 million. In comparison, last year the company earned revenue of $2.61 billion and had a net profit of $407 million.

Based on the recent corporate insider activity of 103 insiders, corporate insider sentiment is negative on the stock.

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eBay, Inc. operates as a commerce company, which engages in the provision of investments and acquisitions to help enable commerce on platforms for buyers and sellers online or on mobile devices. It operates throught the following platforms: Marketplace; Classifieds; StubHub, Corporate, and Others.

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