Piper Jaffray maintained its Overweight rating and $50 price target on eBay EBAY on expectations that the company will report in-line earnings for its latest quarter.
Piper Jaffray commented, "eBay reports Wednesday (7/18/12) after the close. We expect revenue to be in line with Street numbers of $3.36B. We are expecting a typical conservative eBay to guide 2% below the Street's $3.42B based upon FX and economic conditions and a recent history of conservative guidance. For June's marketplace revenues, we expect upside to our 11% expected U.S. GMV growth, based on eBay ChannelAdvisor growth of 22% in the quarter; however, we are conservative on International GMV, which we expect below our 11% estimate. For PayPal, we are estimating TPV growth of 22% (27% off platform)."
eBay closed at $38.60 on Monday.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in