eBay price target raised to $52 from $50 at Piper Sandler

Piper Sandler analyst Thomas Champion raised the firm’s price target on eBay to $52 from $50 and keeps an Overweight rating on the shares. The firm notes eBay Q4 results were slightly above expectations and shares are trading +3% after hours. Piper continues to like focus categories and better cost management despite some EU macro weakness in early 2024. Investments should drive gross merchandise value growth in the second half of 2024, the firm adds.