eBay fell nearly 8% in premarket trading

Tiger Newspress2021-04-29

eBay fell nearly 8% in premarket trading, and the company's second-quarter net profit forecast was lower than market expectations.

EBay is lower in early trading despite aQ1earnings beat and guidance raise. Wall Street analysts are pokingsome holes in the bull case this morning after the company's guidance disappointed.

Morgan Stanley: "EBAY's 1Q results/2Q guide were largely in-line but with reopening uncertainties lingering, EBAY remains a show-me story. We see multiple initiatives they are investing in to drive structural growth, with execution key. Remain EW, $63PT. Our $79 bull case contemplates sum of parts/asset sales."

Susquehanna cuts eBay to a Neutral rating from Positive.

Wedbush Securities also cools on the online retailer, lowering eBay to a Neutral rating from Outperform.

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Comments

  • CSM
    2021-04-29
    CSM
    Facing competition everywhere.
  • yxian
    2021-04-29
    yxian
    Wow
  • Wallstrtbets
    2021-04-29
    Wallstrtbets
    Noted.
  • The_scalper
    2021-04-29
    The_scalper
    I’d be selling 1 mth 57 Puts for opportunistic   trade
  • Huixianmogu
    2021-04-29
    Huixianmogu
    Wow
  • Jassss
    2021-04-29
    Jassss
    Yeah
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