Wells Fargo has decided to maintain its Equal-Weight rating of eBay EBAY and lower its price target from $65.00 to $58.00.
Shares of eBay are trading up 1.98% over the last 24 hours, at $48.99 per share.
A move to $58.00 would account for a 18.39% increase from the current share price.
eBay operates one of the largest e-commerce marketplaces in the world, with $87 billion in 2021 gross merchandise volume, or GMV, rendering the firm the sixth- largest global e-commerce company. eBay generates revenue from listing fees, advertising, revenue-sharing arrangements with service providers, and managed payments, with its platform connecting more than 147 million buyers and roughly 20 million sellers across almost 190 global markets. eBay generates just north of 50% of its GMV in international markets, with a large presence in the U.K., Germany, and Australia.
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