Baird Notes Positive Tracker Data for eBay (EBAY)

eBay (NASDAQ: EBAY) is modestly positive Wednesday following positive comments from Baird Colin Sebastian amid a proprietary survey of eBay Marketplace data for the month of September suggests low double-digit growth, and implies that increased marketing efforts are yielding benefits on the heels of the May data breach and Google Panda algorithm changes.

Sebastian said, "We believe that improving growth in our September Marketplace Tracker was likely driven by a confluence of factors, including: 1) an easier growth comparison; 2) less seasonality in volume compared to prior years; and 3) perhaps some easing of password/panda issues. Importantly, if growth trends continue to improve, there may be less risk to Q4 and 2015 guidance."

The firm maintain and Outperform rating and $63 price target on EBAY.

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 $52.97 yesterday.

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