eBay (EBAY) Q2 Results 'Decent', Needham & Company Says
- Top 10 News for 8/24 - 8/28: Markets Volatile on Continued China Worries; Revised Q2 GDP Outpaces; Facebook Hits User Activity Milestone
- Buffett's Berkshire Hathaway Discloses ~$4.5B Stake in Phillips 66 (PSX)
- Wall Street ends flat in quiet end to dramatic week
- Carl Icahn files 13D on Freeport-McMoran (FCX)
- Autodesk (ADSK) Tops Q2 EPS by 2c; Issues Light Q3 Outlook
Needham & Company analyst Kerry Rice reiterated a Hold on eBay (NASDAQ: EBAY) following 'decent' Q2 results although the company's ability to re-accelerate growth concerns us.
Rice commented, "eBay nearly met 2Q14 revenue expectations despite enduring a cyber-attack and changes to Google's search algorithm. We believe the performance highlights the company's solid core business and management's ability to execute. However, the ability to accelerate future growth remains a concern for us. Some Marketplace customers have not returned following the cyber-attack and those that have appear to be spending less. While management has embarked on marketing efforts to lift spending levels, we believe it could be a challenge. The additional marketing investments are also likely to limit margin expansion. While we believe eBay could post low to mid-teens growth, upside is likely limited."
Shares of eBay closed at $50.70 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Maintains Hold Rating on Splunk (SPLK) Following 1c EPS Beat
- OmniVision's (OVTI) Light Guidance Stems from Uncertainty in China - Needham & Company
- Cowen Raises Price Target on Ulta Salon (ULTA) to $184 Following 2Q15
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View
Related EntitiesNeedham & Company
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!