eBay (EBAY) PT Raised to $72 at TD Cowen

TD Cowen analyst John Blackledge raised the price target on eBay (NASDAQ: EBAY) to $72.00 (from $64.00) while maintaining a Hold rating.

The analyst commented: "Expect Seq Top Line Acceleration, Helped by FX Tailwind; We est. 2Q25 reported GMV growth of 2.4% y/y, above midpoint of mgmt guide & 0.2% below cons, reflecting FX tailwind, partially offset by Easter timing & ongoing macro. We forecast rev up 2.9% y/y (improving vs 1Q25) and Adj Op Inc up 1.4% y/y, with EPS growing 11.3% y/y driven primarily by lower share count. We slightly raised long-term ests, PT to $72, maintain Hold.

Our FY25 ests are unchanged. Longer term, we moderately raised GMV and revenue ests, and, in turn, our EBITDA and adj. EPS ests are slightly higher. Our GMV forecast is higher by 2.0% annually (on avg.) from '25E-'30E, while our rev forecast is 1.8% higher over the period. Our EBITDA forecast is 3.8% higher annually (on avg.) from '25-'30E, while our adj. EPS forecast is 4.6%."

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