eBay (EBAY – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst today. Analyst Bernie McTernan from Needham reiterated a Buy rating on the stock and has a $72.00 price target.
Bernie McTernan has given his Buy rating due to a combination of factors including eBay’s recent performance and future prospects. The company’s fourth-quarter results slightly exceeded expectations, and despite a challenging economic environment, eBay has demonstrated resilience by achieving positive growth in Gross Merchandise Volume (GMV) for three consecutive quarters, particularly in key markets like the UK and Germany.
McTernan also highlights the strength of eBay’s core business, with focus categories experiencing a 6% year-over-year growth in the fourth quarter. This growth is seen as a key factor in eBay’s journey towards sustainable and profitable expansion. Although there is a slight adjustment in future margin estimates, the overall outlook remains positive, supporting the Buy rating.
In another report released today, Citi also reiterated a Buy rating on the stock with a $80.00 price target.