BGC Partners Maintains Buy on eBay Ahead of Today's Earnings Report

BGC Partners has published a research report on eBay EBAY ahead of the company's earnings report scheduled for today after market close. In the report, BGC writes, "eBay reports earnings after the market close on Wednesday January 18th and we expect inline to modest upside to our estimates, paired with a conservative March quarter guidance (following typical historical patterns). Our estimate of $3.331B in revenue represents 33.5% YoY growth and 12.3% sequential growth. This compares to consensus revenue of $3.321B. Our earnings estimate is $0.59 EPS which compares to $0.52 in prior year and $0.48 in prior quarter. Consensus EPS is $0.57. We are above consensus for both revenue and EPS. eBay is our recommendation for investors seeking exposure to eCommerce. Our estimates compare to company issued December quarter guidance of revenue expected between $3.2B and $3.35B (+28.2% to +34.2% YoY) and EPS of $0.55 to $0.58." BGC Partners maintains its Buy rating and $38 price target on eBay, which is currently trading down $0.55 from yesterday's $30.53 closing price.