Baird analyst Colin Sebastian says Meta Platforms’ (META) move to publish listings from eBay (EBAY) on Facebook Marketplace is a “clear positive” for eBay. Meta’s decision expands eBay’s reach to new buyers in or out of the seller’s local market,” the analyst tells investors in a research note. The firm says this “should mitigate the competitive overhang” on eBay from Facebook Marketplace’s emergence as a major e-commerce platform. Baird keeps an Outperform rating on the shares with a $68 price target. eBay in late morning trading is up 11%, or $6.95, to $70.12.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EBAY:
- EBay call volume above normal and directionally bullish
- Early notable gainers among liquid option names on January 8th
- Meta tests eBay listings on Marketplace to comply with EU order
- eBay jumps 12% to $70.74 after Facebook tests listings on Marketplace
- eBay price target raised to $65 from $63 at Cantor Fitzgerald