Citi Raises eBay Target, Points to Strength in AI Execution

eBay Inc. (NASDAQ:EBAY) is included among the 14 High Growth Dividend Paying Stocks to Invest in Now.

Citi Raises eBay Target, Points to Strength in AI Execution

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On March 6, Citi analyst Ronald Josey raised the firm’s price recommendation on eBay Inc. (NASDAQ:EBAY) to $114 from $107. It reiterated a Buy rating on the shares. The firm said it is “incrementally positive” on the stock after the Q4 beat, pointing to better core growth and continued progress in AI.

In February, eBay said it would cut about 800 jobs, or roughly 6% of its full-time workforce. The move is intended to simplify operations and better align staffing with its long-term plans. The layoffs came shortly after the company’s $1.2 billion acquisition of Depop. That deal reflects a clearer push into secondhand fashion and platforms aimed at Gen Z users.

This is the third round of job cuts since 2023. eBay reduced about 1,000 roles, or 9%, in early 2024, citing labor costs rising faster than growth. It had already cut around 500 roles, or 4%, in early 2023, as spending slowed after the pandemic.

eBay Inc. (NASDAQ:EBAY) runs a global commerce platform that connects buyers and sellers across more than 190 markets. Its business includes the main marketplace, localized platforms, off-platform marketplaces, and a suite of mobile apps.

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