eBay (EBAY) Q2 Results 'Decent', Needham & Company Says

July 17, 2014 7:19 AM EDT
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Price: $30.27 -1.21%

Rating Summary:
    28 Buy, 25 Hold, 2 Sell

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Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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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."

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 $50.70 yesterday.

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