Modest Slowdown Seen at eBay (EBAY) in February - Baird

March 6, 2013 6:53 AM EST
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Baird analyst Colin Sebastian commented on eBay (NASDAQ: EBAY) Wednesday, saying their February Tracker suggests a modest slowdown in growth.

The firm's proprietary survey of eBay data for the month of February suggests a slowdown in year-over-year growth to the low teens from mid/high teens in January.

"Overall, we remain comfortable with our Q1 U.S. GMV growth estimate of +12.5%, which we believe remains in line with broader e-commerce trends. Catalysts ahead include: 1) Offline PayPal; 2) Local/Mobile commerce; and 3) Marketplace. Maintain Outperform rating."

Despite the modest slowdown, the firm maintained an Outperform rating and price target of $60.

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $55.26 yesterday.

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