eBay (EBAY) PT Raised to $62 at Truist Securities

Truist Securities analyst Youssef Squali raised the price target on eBay (NASDAQ: EBAY) to $62.00 (from $58.00) while maintaining a Hold rating.

The analyst commented: " 3Q24 results were slightly ahead of muted expectations, reflecting mgmt's slow but steady progress towards repositioning eBay for sustainable GMV growth. A mixed 4Q guide however reflects a challenging macro & growth initiatives that are still taking hold, with an expected GMV growth of 2-4% Y/Y. While eBay is making clear progress on focus-categories & ads to reinvigorate overall growth while protecting margins, we find the stock fairly valued trading at 8.2x EV/EBITDA & 11.7x P/E (non-GAAP) on our FY25 ests. Buybacks remain a powerful part of the story with mgmt committed to another $750M worth in 4Q24, fueled by cash on hand and FCF."

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