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

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