What to expect from eBay’s report – TradingView News

eBay Inc. is headquartered in San Jose. EBAY is a global e-commerce leader known for its robust platform that connects millions of buyers and sellers worldwide. With a market capitalization of $26.54 billion, eBay offers a wide range of services, including online marketplace operations, advertising, and payment solutions. The company is scheduled to report fiscal second-quarter 2024 earnings on Wednesday, July 24.

Ahead of the event, analysts expect EBAY to report earnings of $0.88 per share, up 20.6% from $0.73 per share in the year-ago quarter. Over the past four quarters, the company has missed Wall Street estimates in three and topped them in another.

The company’s adjusted earnings of $1.02 per share for the last reported quarter exceeded market consensus by 5.2%. The company’s strong performance in the first quarter of 2024 was driven by strong growth in first-party advertising revenue, despite weakness in third-party advertising and a slight decline in active buyers.

Analysts forecast that EBAY will post earnings per share of $3.72 in fiscal 2024, up 18.5% from earnings per share of $3.14 in fiscal 2023. Earnings per share in fiscal 2025 are expected to increase 6.7% year over year to $3.97.

EBAY shares are PNQI17.1% return over the same period.

On May 1, eBay Inc. reported first-quarter results that showed weak revenue growth and lower-than-expected guidance for the current quarter. As a result, shares fell 9.5% in the premarket session after the results were released.

The consensus view on EBAY stock is bullish, with an overall rating of “Moderate Buy.” Out of 27 analysts covering the stock, nine recommend a “Strong Buy” rating, 17 analysts suggest a “Hold,” and one gives a “Strong Sell” rating.

This setup is slightly more bullish than it was three months ago, when the stock had seven “Strong Buy” ratings. The average analyst price target for EBAY is $53.70, indicating a potential upside of 1.6% from current levels.

On the date of publication, Rashmi Kumari did not hold (directly or indirectly) a position in any of the securities mentioned in this article. All information and data in this article is for informational purposes only. For more information, please refer to Barchart’s Disclosure Policy here.