eBay price target raised to $95 from $85 at Bernstein

Bernstein analyst Nikhil Devnani raised the firm’s price target on eBay (EBAY) to $95 from $85 and keeps a Market Perform rating on the shares. The firm notes that trading cards have made a major comeback, and eBay is benefiting as one of the market leaders in the space. Focus category growth took a leg up in Q2, with Collectibles the strongest contributor for the third straight quarter. This segment is underpinned by trading cards, which have become a cultural phenomenon and a speculative asset class. Bernstein’s findings suggest that Q3 was robust, and the firm increases second half of 2025 estimates at eBay accordingly. It does worry that 2026 is difficult to underwrite with conviction as Collectibles growth is not linear or entirely in the company’s control.