eBay (EBAY) PT Raised to $57 at Susquehanna Following Guidance Update

Susquehanna analyst Shyam Patil raised the price target on eBay (NASDAQ: EBAY) to $57.00 (from $44.00) while maintaining a Positive rating after updating 2Q guidance. EBAY said the strong GMV trends in April continued into May and now expects 2Q GMV growth to be 23-26% y/y, driven by organic traffic, marketing efficiencies, and better conversion.

2Q revenue is now expected to be $2.75b-$2.80b ($2.78b midpoint), 13% better than consensus at the midpoint. 2Q EPS is now expected to be $1.02-$1.06 ($1.04 midpoint), 33% better than consensus at the midpoint and 38% better than previous guidance of $0.73-$0.80.

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