Benchmark Reiterates Buy on eBay as Weak Holiday Outlook Clouds Consistent Fundamental Improvement
In a report published Thursday, Benchmark Company analyst Daniel L. Kurnos reiterated a Buy rating and $63.00 price target on eBay (NASDAQ: EBAY).
In the report, Benchmark Company noted, “eBay (EBAY-Buy, PT $63) reported in-line 3Q results, with outperformance in Marketplaces revenue and incremental operating leverage offsetting a modest shortfall in PayPal revenue. However, guidance once again came in below expectations, driven by domestic macro weakness and caution regarding the holiday period. While we suspect management's near-term forecast may prove conservative, we see no change to the positive, consistent fundamental long-term trends. Therefore, although we acknowledge there could be some risk to the story over the next quarter, we reiterate our 2014 estimates, calling for accelerating growth in both primary business segments, and maintain our Buy rating.”
eBay closed on Wednesday at $53.52.
Latest Ratings for EBAY
|Jul 2016||Morgan Stanley||Maintains||Underweight|
|Jul 2016||Canaccord Genuity||Maintains||Hold|
|Jul 2016||Cantor Fitzgerald||Maintains||Hold|
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