5 Nasdaq Sleeper Stocks to Buy Before Wall Street Wakes Up

3. eBay Inc. (NASDAQ:EBAY)

Number of Hedge Fund Holders: 43

EBay Inc. (NASDAQ:EBAY) is an internet and direct marketing retail company connecting buyers and sellers on its marketplace platforms. It is based in San Jose, California.

Daniel Kurnos at Benchmark holds a Buy rating on EBay Inc. (NASDAQ:EBAY) shares as of November 3. The analyst also placed a $62 price target on the stock.

EBay Inc. (NASDAQ:EBAY) has a decent operating future and positive performance in the third quarter. The company beat its guidance figures for revenue, non-GAAP operating margins, and non-GAAP EPS. Its revenue was $2.38 billion, beating the guidance of $2.29-$2.37 billion, non-GAAP operating margin was 28.9%, while the guidance was between 27-28%, and its non-GAAP EPS was $1, while the guidance was between $0.89-$0.95.

In total, 43 hedge funds were long eBay Inc. (NASDAQ:EBAY) in the second quarter. Their total stake value was $1.3 billion.

Smead Capital Management, an investment management company, mentioned eBay Inc. (NASDAQ:EBAY) in its third-quarter 2022 investor letter. Here’s what the firm said:

“Two things are very noticeable right off the top. First, sometimes you have to be happy losing less in a bear market environment so that you have more of your capital to grow in the next bull market. We are never really happy losing money. Second, 2022 is likely to be our third year of existence as a fund to lose money for the year. This year would join 2008 and 2018 in this undistinguished category. Our biggest detractors was dominated by eBay (NASDAQ:EBAY). Consumer/investor fears about media and e-commerce hit WBD and EBAY and profit taking in Amgen came from early 2022 strength.”