eBay audience should ‘significantly expand’ with Meta pact, says Citi

Citi analyst Ygal Arounian keeps a Buy rating on eBay (EBAY) with a $75 price target after the company announced a partnership with Meta Platforms (META) integrating eBay listings on Facebook Marketplace. While eBay listings will be shown on Facebook Marketplace, the entire process will be handled by eBay, the analyst tells investors in a research note. The firm expects the channel expansion into Facebook Marketplace should “significantly expand” the audience and reach for eBay sellers’ listings. Citi points out Marketplace has over 1B monthly visitors, whereas eBay had 133M active buyers as of Q3. It thinks the partnership will be a net benefit for eBay as Facebook is still the largest social commerce platform globally.