Several analysts took more moderate stances on eBay as a result of this report, but few are willing to jump ship just yet. JMP Securities lowered its EPS estimate but maintained an outperform rating regardless. JPMorgan Chase & Co. (NYSE:JPM) analyst Doug Anmuth lowered his price target to $63 per share, a dollar lower than his earlier projection, but this is still 18% higher than the current price. Macquarie Equities Research’s Ben Schachter was the lone analyst to lower his rating, now calling eBay a hold rather than a buy. On the other hand, Canaccord and RBC Capital Markets held firm on their earlier price targets.
Is today a buying opportunity, the start of a major blowback, or simply a transition from strong share-price growth to a period of more modest (or no) gains? eBay still has momentum behind it, but much can change in the global economy between now and the 2013 holiday season.
The article eBay’s Earnings: Close, But No Cigar originally appeared on Fool.com and is written by Alex Planes.
Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more insight into markets, history, and technology.The Motley Fool recommends Amazon.com and eBay. The Motley Fool owns shares of Amazon.com and eBay.
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