John Blackledge, an analyst from TD Cowen, maintained the Hold rating on eBay (EBAY – Research Report). The associated price target remains the same with $62.00.
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John Blackledge has given his Hold rating due to a combination of factors influencing eBay’s performance. The company is facing challenges such as a slight decline in gross merchandise volume (GMV) and revenue, which are expected to decrease by 0.9% and 0.2% year-over-year, respectively, in the first quarter of 2025. These declines are attributed to foreign exchange and calendar-related headwinds, although they are partially offset by strategic initiatives and the acquisition of Goldin.
Despite these challenges, eBay’s stock has remained relatively stable compared to broader market volatility, declining only 5% since the S&P 500 peaked. The company’s focus on used and refurbished goods, which constitute a significant portion of its sales, may provide some resilience in a softening macroeconomic environment. However, the sizable collectibles business could face difficulties if consumer spending decreases. Overall, the mixed outlook with both positive strategic moves and ongoing headwinds justifies the Hold rating.
In another report released on April 23, Stifel Nicolaus also maintained a Hold rating on the stock with a $61.00 price target.