Collins Stewart Downgrades eBay Inc. (EBAY) to Sell
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Collins Stewart downgrades eBay Inc. (Nasdaq: EBAY) to Sell. Price target $12.
Collins analyst says, "Like any other Internet stock, EBAY has benefited from multiple expansion in the last five weeks, however, we believe that 50% appreciation is excessive with no signs of fundamental improvements. We believe that eBay's core Marketplace continues to suffer from structural problems causing market share loss and gross margin pressure and is far from rebounding. In addition, we are incrementally more negative about deteriorating trends at Shopping.com, gross margin pressure in Payments, and lack of promotional infused boost in Q1. We are cutting our est. to reflect our increasing concerns on the downside risk to eBay's earnings."
To see more analyst ratings on EBAY Click Here.
eBay Inc. (eBay) provides online marketplaces for the sale of goods and services, as well as other online commerce, or ecommerce, platforms, online payments services and online communications offerings to a diverse community of individuals and businesses.
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Comments
Bad Carpenters Build Bad Houses
"We believe that eBay's core Marketplace continues to suffer from structural problems causing market share loss and gross margin pressure and is far from rebounding." "Structural problems"?? Would that be the house that CEO John Donahoe and President Lorrie Norrington built? The sooner they are removed the sooner eBay can be rebuilt.
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Chelle on Apr 13, 2009 03:35 PMWise move by Collins Stewart - It is too bad it took him so long. A lot of people have lost a significant amount of money over the past year- unnecessarily. All of these analysts have demonstrated gross negligence and have essentially robbed share holders as a result. Terrible performance by Analysts and another example of the incompetence among corporate entities that have caused the collapse of our economy.