Online e-commerce platform eBay Inc (NASDAQ: EBAY) reported first-quarter results Wednesday that were highlighted by a lift in gross merchandise value due to the coronavirus pandemic.
Here’s how three Street analysts reacted to the print.
The eBay Analysts
Morgan Stanley Brian Nowak maintained an Equal-weight rating on eBay’s stock with a price target lifted from $35 to $38.
BofA Securities Justin Post maintained at Neutral, price target lifted from $42 to $44.
KeyBanc Capital Markets analyst Edward Yruma maintained at Overweight, unchanged $47 price target.
Morgan Stanley: eBay Growth Accelerating
Gross merchandise volume rose in the first quarter and accelerated in April to 20% on a year-over-year basis, Nowak said in a Thursday note.
Encouragingly, the acceleration expanded from categories that cater to at-home living to “virtually all categories,” the analyst said.
Yet eBay could be benefiting from near-term tailwinds that may not sustain over time, he said. Some of