Analyst Positive On Addition Of Hayman To eBay's Enterprise Segment

Shares of eBay EBAY have been volatile Tuesday following a couple of news points this morning. The stock last traded at $49.25, down nearly a third of a percent for the session. Shares touched a low at $49.10 and, soon after, broke into positive territory briefly, hitting an intraday high at $49.49. A release out of eBay earlier disclosed the naming of Craig Hayman as the new head of the company's Enterprise unit. Traders appeared to sell the news in Tuesday's pre-market session, dipping the stock to a before-the-closing-bell low of $49.02. In contrast to the Street's knee-jerk reaction lower, Gil Luria of Wedbush Securities seemed optimistic on the management update. He told Benzinga the benefit from the hire will be from "the introduction of enterprise technology expertise into the executive team." Luria highlighted eBay's "expertise in ecommerce and interacting with consumers and small businesses," but noted the company's "limited experience with larger retailers since the acquisition of GSI Commerce in 2011." The Wedbush analyst believes Hayman will "beef up that capability within eBay with somebody that has great experience at one of the leading enterprise technology companies, IBM IBM." Also apparently impacting eBay shares Tuesday, Topeka Capital's Victor Anthony issued a research note reducing his price target from $60 to $54. He pointed at an "increasingly challenging" roadmap for PayPal and concern with a recent data breach. Anthony maintains a Hold rating on shares of eBay. To see all the analyst action on eBay shares, visit Benzinga's Analyst Ratings page!