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Piper Optimistic On eBay's Rebound From Data Breach And Google Panda

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Piper Jaffray analyst Gene Munster commented on eBay's (NASDAQ: EBAY) quick rebound from its data breach and the Google (NASDAQ: GOOG) algorithm change following ChannelAdvisor (NYSE: ECOM) data.

According to ChannelAdvisor, eBay same-store-sales increased 12.3 percent in June, a 1.3 percent gain from May. Munster remarked that the data suggests the company is quickly rebounding from the data breach and Google Panda problems.

Piper Jaffray reiterated an Overweight rating and $63.00 price target. The target price suggests a 25.17 percent upside to eBay shares.

Shares of eBay closed at $50.33 on Thursday. The stock gained as much as three percent Friday morning.

Posted-In: Gene Munster Piper JaffrayAnalyst Color Reiteration Analyst Ratings

 

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