Evercore Raises Price Target on eBay (EBAY) as Marketplace Improves
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Price: $104.19 -0.4%
Rating Summary:
24 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
24 Buy, 28 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Evercore Partners today maintained an Equal Weight rating on eBay (NASDAQ: EBAY) but raised its price target to $60.00 (from $53.00).
"Increased desktop engagement fueled by Marketplaces improvements, coupled with favorable third-party transaction and mobile checks, lead us to see estimate upside this quarter and in 2013, despite us already being at the high end of guidance," said analyst Ken Sena.
The Evercore report made note of marketplace innovations such as faster checkout (two clicks), improved search capability and social elements, as well as continuing improvement on the mobile front.
"We view this as evidenced by growing engagement (desktop and mobile), strong transactional volume data, and mobile growth that is outpacing the industry," said Sena.
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 $53.51 yesterday.
"Increased desktop engagement fueled by Marketplaces improvements, coupled with favorable third-party transaction and mobile checks, lead us to see estimate upside this quarter and in 2013, despite us already being at the high end of guidance," said analyst Ken Sena.
The Evercore report made note of marketplace innovations such as faster checkout (two clicks), improved search capability and social elements, as well as continuing improvement on the mobile front.
"We view this as evidenced by growing engagement (desktop and mobile), strong transactional volume data, and mobile growth that is outpacing the industry," said Sena.
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 $53.51 yesterday.
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