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Continued momentum in on-line commerce factors to sturdy third-quarter outcomes for
Baird analyst Colin Sebastian asserts in a analysis observe on Wednesday.
The analyst inched up his earnings estimates for the quarter. He now sees eBay (ticker: EBAY) notching earnings of 88 cents a share, two pennies above the Wall Avenue analyst consensus, with 20% progress in gross merchandise worth, or GMV. He sees income of $2.73 billion, above consensus at $2.70 billion.
“Final week, our proprietary survey of weekly volumes bought on eBay.com indicated GMV rebounded a bit after some vacation interval softness,” he writes in a analysis observe. “This week, our tracker means that volumes held typically regular once more and stay at considerably larger (year-over-year) ranges.”
Sebastian additionally barely ticked up his EPS estimates for each subsequent 12 months and 2022. The analyst retains his Outperform ranking on the inventory.
In current buying and selling, eBay inventory was up 0.5%, at $52.91. The
was up 1.5%. Yr up to now, the inventory is up 46.5%.
Write to Eric J. Savitz at [email protected]