Nomura Securities Maintains a 'Neutral' on eBay (EBAY); Raising Numbers After Q1 Review

Nomura Securities maintains a 'Neutral' on eBay (NASDAQ: EBAY) price target raised from $37.00 to $37.50.

Analyst, Brian Nowak, said, "eBay reported a strong 1Q:12 non-GAAP EPS of $0.55, beating our above-Street estimate by $0.01, and Street by $0.03. Beat was driven by PayPal with transaction revenue 9% ahead of us, with 70% of the upside driven by a higher-than-expected take rate. Marketplaces revenue came in 4% ahead of us, but segment profit was 2% below, as the company continued investing in new products, R&D, and advertising. Given the revenue acceleration, we are now expecting a 33% incremental margin for the rest of 2012 (vs. 31% previously)...Raise F12E/F13E EPS from $2.36/$2.77 to $2.41/$2.83, respectively."

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $35.87 yesterday.

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