Needham & Company Reiterates a 'Buy' on eBay (EBAY); Another Strong Quarter; Guidance Likely Conservative

July 19, 2012 10:34 AM EDT
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Price: $30.27 -1.21%

Rating Summary:
    28 Buy, 25 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Needham & Company reiterates a 'Buy' on eBay (NASDAQ: EBAY) price target of $50.00.

Analyst, Kerry Rice, said, "eBay posted strong 2Q12 results that exceeded expectations. The upside was driven primarily by strong payment volume and core non-vehicle GMV. Margins expanded across all three businesses. eBay continues to lead the charge in mobile commerce as management expects mobile GMV and payments to reach $10 billion in FY12. Management maintained FY12 guidance, which we believe could prove conservative given 1H12 upside."

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 $40.46 yesterday.

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