Needham & Company Starts eBay (EBAY) at Buy; Expect Continued Upward Trends

Needham & Company initiates coverage on eBay (NASDAQ: EBAY) with a Buy. PT $50.00.

Analyst, Kerry Rice, said, "We, like most, expect eBay’s Payments segment to continue to grow rapidly; however, differing from others, we expect Marketplaces revenue to grow in line with overall U.S. e-commerce trends. We expect Marketplaces revenue to increase 12% in FY13, which, based on our FY12 estimates, propels our Marketplaces to $8.3 billion, ahead of guidance. We expect this solid Marketplaces growth to prompt management to upwardly revise guidance. This projected revenue upside also lifts our pro forma EPS ahead of expectations."

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 $41.81 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• Needham Reiterates Buy Rating on WhiteFiber Inc (WYFI)
• Nu Holdings (Nubank) (NU) PT Raised to $19 at Needham