Wells Fargo Maintains a 'Market Perform' on eBay (EBAY); Solid Growth But Investments Hold Back Profits
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Price: $103.14 -1.38%
Rating Summary:
23 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
23 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wells Fargo maintains a 'Market Perform' on eBay (NASDAQ: EBAY) price target range of $33-$35 from $34-36.
Wells analyst says, "eBay delivered an in-line quarter and raised guidance by only a slight margin this quarter, but we are encouraged by the continued strength in both the Marketplaces and Payments segments, which should bode well for overall eCommerce heading into the holiday season. A high level of investment in the business including acquisitions and technology development held back profit this quarter, and keeps us on the sidelines for now, but innovative new offerings should provide a payoff for investors down the road...We are fine-tuning estimates as follows: Our 2011E goes from $2.03 to $2.00, and 2012 goes from $2.36 to $2.31. Our 2011E FCF goes from $2.5B to $2.3B."
For more ratings news on eBay click here and for the rating history of eBay click here.
Shares of eBay closed at $33.18 yesterday.
Wells analyst says, "eBay delivered an in-line quarter and raised guidance by only a slight margin this quarter, but we are encouraged by the continued strength in both the Marketplaces and Payments segments, which should bode well for overall eCommerce heading into the holiday season. A high level of investment in the business including acquisitions and technology development held back profit this quarter, and keeps us on the sidelines for now, but innovative new offerings should provide a payoff for investors down the road...We are fine-tuning estimates as follows: Our 2011E goes from $2.03 to $2.00, and 2012 goes from $2.36 to $2.31. Our 2011E FCF goes from $2.5B to $2.3B."
For more ratings news on eBay click here and for the rating history of eBay click here.
Shares of eBay closed at $33.18 yesterday.
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