Baird Maintains an 'Outperform' on eBay (EBAY); Solid May/QTD Trends; Potential Storm Brewing with Google?

Baird maintains an 'Outperform' on eBay (NASDAQ: EBAY) price target of $45.00.

Analyst, Colin Sebastian, updates investors in his firm's transaction data survey. Sebastian noted that the U.S. should have another solid month (mid to high-teens % growth), however Europe is likely to drag numbers down slightly as well as tough summer comps.

Sebastian also noted that Google's (Nasdaq: GOOG) recent change in policy, from free product search to pay-for Product Listing Ads may help Google monetize it's efforts to move into e-commerce, but it should also push some merchants to Amazon.com (Nasdaq: AMZN) and eBay (Nasdaq: EBAY). The kicker is, eBay and Amazon will have to now pay for e-commerce traffic that Google used to provide (for free).

There are rumors out now that eBay is taking Marketplace seller surveys to figure out if a free listing structure (full performance-based fee structure) will be better long-term.s

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 $40.94 yesterday.

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