AmTech Reiterates Sell on eBay (EBAY); Updates Q3 Listings Growth
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American Technology Research is out with a research report this morning updating its Q3 core listing growth estimates on eBay (Nasdaq: EBAY). The firm reiterates its Sell rating and $20 price target on shares of eBay.
Eight weeks into Q3, AmTech sees total listings up 33% year-over-year implying total Q3 listings of 725 million. The firm believes strength can be attributed to "easy comps in the U.S. and Germany and significant promotional activity." Interestingly, AmTech notes that 19% listings growth in Q2 only translated into 8% gross merchandise value growth.
Breaking down eBay's listings by region on a year-over-year basis, AmTech sees listings growth in Asia/Pacific of 25%, 48% in Europe, and 18% in North America.
AmTech said that it continues "to believe that 1. acceleration in gross merchandise volume and 2. acceleration in Active User growth are prerequisites to material multiple expansion from current levels."
eBay, Inc. and its subsidiaries provide online marketplaces for the sale of goods and services, online payments services, and online communications offerings to individuals and businesses in the United States and internationally.
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Comments
Yes, Sell Really
If your going to hold, better use gloves. Ebay stock is a pile of s...!
One More Note...
Quoting eBay's listing numbers means nothing now. They are giving Buy.com and other sellers millions of free listings to pad the numbers. Don't be fooled by this trick. EBay is on life support and their sellers are ready to pull the plug!
EBay is Dead...
Great call. EBay has now banned payment with checks and money orders, which will drive away even more users. Donahoe has killed the goose that laid the golden egg. Amazon will benefit from all the foolish changes at eBay. Put your money in Amazon and sell eBay ASAP. They are rapidly self-destructing.
Sell..Really?
What about PayPal and Skype. ATR needs to get their heads out of their asses. PayPal spun off could fetch $20 a share. I think I'll hold thanks.
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Ebay Stock Price
Ebaynomore on Sep 4, 2008 07:00 PMEbay management is clueless as to how to turn this site around. Skype is up for sale and Frank if you bother to do some research you will find Skype is in last place with VOIP companies because Meg failed to properly fund it. Skype's equipment is outdated as it their technology. Just as Meg failed to properly fund many of Ebay's day to day operating needs in order to fund her pet projects. Ebay China and Express both being classic examples of her "vision". These two alone cost the dot com site and sellers necessary software and hardware expenditures to keep the site momentum moving forward. Meg's tenure is marked with many missteps. I don't know many sellers today who still hold Ebay stock. Personally I traded mine in for Amazon and Google long ago. I now sell on Amazon and partner with Google and several of their products. Stick a fork in Ebay, declare it done, and let's move on. Leave Wall Street to scratch their heads and try to figure out why they didn't see this one coming.