Piper Jaffray Reiterates Overweight, $50 PT on eBay Ahead of Earnings
Piper Jaffray maintained its Overweight rating and $50 price target on eBay (NASDAQ: EBAY) on expectations that the company will report in-line earnings for its latest quarter.
Piper Jaffray commented, "eBay reports Wednesday (7/18/12) after the close. We expect revenue to be in line with Street numbers of $3.36B. We are expecting a typical conservative eBay to guide 2% below the Street's $3.42B based upon FX and economic conditions and a recent history of conservative guidance. For June's marketplace revenues, we expect upside to our 11% expected U.S. GMV growth, based on eBay ChannelAdvisor growth of 22% in the quarter; however, we are conservative on International GMV, which we expect below our 11% estimate. For PayPal, we are estimating TPV growth of 22% (27% off platform)."
eBay closed at $38.60 on Monday.
Latest Ratings for EBAY
|Jul 2016||Deutsche Bank||Maintains||Hold|
|Jul 2016||Cantor Fitzgerald||Maintains||Hold|
|Jul 2016||Canaccord Genuity||Maintains||Hold|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.