Nikhil Devnani, an analyst from Bernstein, maintained the Hold rating on eBay (EBAY – Research Report). The associated price target remains the same with $65.00.
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Nikhil Devnani has given his Hold rating due to a combination of factors influencing eBay’s current market position. One of the primary reasons is the company’s stable performance in the first quarter, where it managed to exceed expectations in gross merchandise volume (GMV) despite macroeconomic and tariff concerns. However, the outlook for the full year remains uncertain, with potential risks from tariffs and macroeconomic factors that have not yet fully materialized, which could impact future performance.
Another factor contributing to the Hold rating is the recent transition in the company’s CFO position, which introduces an element of uncertainty. While eBay’s strategic initiatives, such as the growth in Focus Categories, show promise, the overall market environment and potential for future disruptions warrant a cautious approach. The valuation metrics, such as the adjusted PEG ratio, also suggest a balanced view, supporting the decision to maintain a Hold rating rather than a more aggressive stance.
In another report released today, Stifel Nicolaus also maintained a Hold rating on the stock with a $62.00 price target.