eBay (EBAY): Checks Show Strong October - Baird
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Baird analyst, Colin Sebastian, reiterated his Outperform rating on shares of eBay (NASDAQ: EBAY) after the analyst's proprietary eBay tracker showed a good month in October. The tracking of roughly 10% of eBay.com GMV suggests mid/high-single-digits growth Y/Y, in-line to slightly above September levels.
The tracker tends to report growth rates higher than eBay's numbers but directional trends are correlated. While this is an interesting datapoint, the analyst points out that October was largely factored into company's guidance, and 70%+ of Q4 will occur in Nov/Dec.
No change to the PT of $35.
Shares of eBay closed at $28.29 yesterday.
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