“We remain NEUTRAL and could look to potentially become more constructive with our views if signs of GMV growth acceleration materialize. In 3Q, U.S. Marketplace GMV growth slowed +2%, below our expectation for +MSD-HSD% growth. PayPal’s 3Q18 report on 10/18 suggested eBay’s growth decelerated QoQ (Exhibit 3), and eBay’s result today confirmed this decelerating trajectory. In terms of new product-based experiences on the site, new users continue to respond well (improved conversion), but conversion gains have not materialized among existing eBay users. This has limited the company’s ability to scale new experiences. Increased marketing in 3Q also had a mixed impact, and coupled with the negative impact of a strong USD on the U.S. export business, growth decelerated.”,” the firm’s analyst commented.
Several other research firms also recently weighed in on EBAY. TheStreet upgraded eBay from a c+ rating to a b- rating in a research report on Wednesday, September 12th. BidaskClub downgraded eBay from a sell rating to a strong sell rating in a research report on Tuesday, September 25th. Wedbush reiterated a neutral rating and set a $36.00 target price on shares of eBay in a research report on Thursday, September 13th. Robert W. Baird reiterated a buy rating and set a $44.00 price objective on shares of eBay in a report on Monday, September 3rd. Finally, Credit Suisse Group decreased their price objective on shares of eBay from $60.00 to $58.00 and set an outperform rating for the company in a report on Monday, July 16th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirteen have given a buy rating to the company. The company has an average rating of Hold and an average price target of $43.41.
eBay (NASDAQ:EBAY) last announced its quarterly earnings data on Tuesday, October 30th. The e-commerce company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.65 billion. eBay had a negative net margin of 10.05% and a positive return on equity of 20.57%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 earnings per share. Research analysts forecast that eBay will post 1.82 EPS for the current year.
In related news, SVP Kristin A. Yetto sold 25,240 shares of the business’s stock in a transaction that occurred on Monday, August 6th. The shares were sold at an average price of $33.99, for a total value of $857,907.60. Following the completion of the transaction, the senior vice president now owns 83,876 shares of the company’s stock, valued at $2,850,945.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kristin A. Yetto sold 23,648 shares of the business’s stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $33.54, for a total transaction of $793,153.92. Following the completion of the transaction, the senior vice president now directly owns 109,116 shares of the company’s stock, valued at approximately $3,659,750.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,642 shares of company stock valued at $4,364,399. Company insiders own 6.22% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EBAY. CSat Investment Advisory L.P. acquired a new position in shares of eBay during the second quarter worth $106,000. Valeo Financial Advisors LLC acquired a new position in shares of eBay during the second quarter worth $107,000. NEXT Financial Group Inc acquired a new position in shares of eBay during the third quarter worth $130,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of eBay by 223.0% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 4,128 shares of the e-commerce company’s stock worth $150,000 after purchasing an additional 2,850 shares in the last quarter. Finally, Cerebellum GP LLC increased its position in shares of eBay by 292.7% during the third quarter. Cerebellum GP LLC now owns 5,007 shares of the e-commerce company’s stock worth $165,000 after purchasing an additional 3,732 shares in the last quarter. 84.50% of the stock is owned by hedge funds and other institutional investors.
eBay Inc operates commerce platforms that connect various buyers and sellers worldwide. Its platforms enable sellers to organize and offer their inventory for sale; and buyers to find and purchase it virtually. The company's Marketplace platforms include its online marketplace at ebay.com and the eBay mobile apps; and StubHub platforms comprise its online ticket platform at stubhub.com, and the StubHub mobile apps and online ticket platform that connect fans with their favorite sporting events, shows, and artists, as well as enables them to buy and sell tickets.
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