eBay (EBAY) Q2 Results 'Decent', Needham & Company Says
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
- BofA/Merrill Lynch Downgrades Informatica (INFA) to Underperform
- Amazon (AMZN) Results Not as Bad as Headlines Suggest, Baird Said; Buy Weakness
- BioMarin (BMRN) PT Lifted to $87 at Jefferies Posts Q3
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!