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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.

Latest Ratings for EBAY

DateFirmActionFromTo
Nov 2014Evercore ISIDowngradesHoldSell
Oct 2014Morgan StanleyInitiates Coverage onUnderweight
Oct 2014Monness Crespi HardtInitiates Coverage onBuy

View More Analyst Ratings for EBAY
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Posted-In: Gene Munster Piper JaffrayAnalyst Color Reiteration Analyst Ratings

 

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