These Analysts Lower Their Forecasts On eBay After Q3 Results

eBay Inc. EBAY posted upbeat earnings for its third quarter on Tuesday.

The company reported adjusted earnings of $1.03 per share for the third quarter, topping the consensus estimate of 94 cents per share. Revenue of $2.50 billion was in line with the consensus of $2.50 billion.

The company said it sees fourth-quarter earnings of $1.00 to $1.05 per share on revenue of $2.47 billion to $2.53 billion. It expects FY23 earnings of $4.17 to $4.22 per share on revenue of $10.02 billion to $10.08 billion.

eBay shares fell 3.8% to trade at $39.24 on Wednesday.

These analysts made changes to their price targets on eBay following earnings announcement.

• Wells Fargo slashed the price target on eBay from $46 to $43. Wells Fargo analyst Ken Gawrelski maintained an Equal-Weight rating.
• Benchmark cut the price target on eBay from $60 to $56. Benchmark analyst Daniel Kurnos maintained a Buy rating.
• Truist Securities lowered the price target on eBay from $54 to $47. Truist Securities analyst Youssef Squali maintained a Hold rating.

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