Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Analysts at Credit Suisse released a report following up on eBay Inc’s (NASDAQ: EBAY) Q1 earnings report. Here’s a breakdown of their updated take on eBay’s future.
The numbers
eBay reported adjusted earnings per share (EPS) of $0.77 on revenue of $4.45 billion in Q1. The earnings number was ahead of consensus estimates, while the reported revenue number was in-line. Analysts point out strength in the company’s Payment segment and weakness from the Marketplaces segment during the quarter.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
No surprises
Analysts point out that there was no data in eBay’s Q1 earnings report that warrants a change in investment thesis. Management reaffirmed prior 2015 guidance and provided a bit of clarity on the strategy for eBay following its “divorce” from PayPal. Analysts expect this spin-off to be completed by3Q15.
What to watch
Moving forward, analysts will be watching the following three metrics to determine the value of eBay as a long-term investment:
1. Acceleration in PayPal TPV growth, post-divorce
2. Gross Merchandise Value acceleration as the full benefits of Cassini are incorporated
3. Increased operating leverage resulting from aggressive marketing spend
Stock outlook
The market seems to like what is saw from eBay’s earnings, as the stock is trading up about 3.5 percent on Thursday morning. eBay’s stock has had a nice run in the past six months, climbing about 17 percent.
Credit Suisse raised its price target for eBay from $62 to $66 following the Q1 earnings report. However, until they see positive trends on any of the three aforementioned metrics, they will maintain their Neutral rating on the stock.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.