Topeka Comments on eBay (EBAY) Ahead of Q3 Earnings

Topeka Capital maintained a Hold rating on eBay (NASDAQ: EBAY) with a price target of $59. Comments come ahead of Q3 earnings results on Wednesday. Analyst Victor Anthony expects an in-line quarter. He also said its PayPal split will likely dominate discussions.

"We have trimmed our 4Q estimates to reflect FX. Third-party data shows that eBay continues to feel the negative impacts from the cyber attack earlier this year. However, with the meaningful share price decline since the announced split, in part due to the overall market swoon, we believe these issues and any reduction in the implied 4Q guidance, are likely reflected in the share price. The split into two companies, which we agree with, will likely dominate discussions on eBay over the next several quarters," said Anthony.

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 $50.46 yesterday.

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