Baird Reiterates Outperform Rating on eBay (EBAY)

Baird analyst Colin Sebastian reiterated an Outperform rating and $62.00 price target on eBay (NASDAQ: EBAY).

The analyst commented: "July tracker suggests good start to Q3. While a bit in the rearview mirror, our tracking of ebay.com transactions from July suggested slightly better month-over-month growth than historical averages. However, given mixed signals around consumer spending, we are not making model updates without a better view into August back-to-school spending and/or the initial ramp towards Q4 holiday shopping. Nonetheless, we continue to like the stock despite the YTD outperformance (EBAY +31% vs. S&P +17%), given the prospects for modest 2H GMV growth, stable-to-higher Y/Y margins, and possibly some counter-cyclicality."

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $56.94 yesterday.

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