Stifel analyst Mark Kelley raised the price target on eBay (NASDAQ: EBAY) to $98.00 (from $94.00) while maintaining a Hold rating.

The analyst comments "GMV/Revenue both beat Street by ~2%, but the ~8ppt GMV deceleration implied by the guide was likely larger than expected as the company laps non-durable GMV drivers (gold/silver bullion, Klarna, marketing efficiencies). The U.S. segment was the standout of the quarter, with GMV growth of +27% y/y (4% beat) and accelerating U.S. buyer growth, resulting in a raise for the FY26 guide. While the company has performed well and looks to further scale its strategic priorities, the outlook still remains a bit uncertain for us (particularly international macro weakness) as we await a normalized GMV growth profile. We adjust our estimates and TP to $98."