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17.01.2020 14:21:19

EBay stock falls after Wells Fargo turns bearish

Shares of eBay Inc. are off 1% in premarket trading Friday after Wells Fargo analyst Brian Fitzgerald downgraded the stock to underweight from equal weight in a note titled: "Value Stock Or Melting Ice Cube?" He sees an unattractive risk-reward scenario going forward given his expectation that eBay will continue to face challenges with its core marketplace business, including due to a U.S. internet sales tax rollout and increasing competition from new marketplaces as well as established players. "We estimate eBay's U.S. gross merchandise volume (GMV) through the first three quarters of 2019 was 5.8x larger than the combined GMV of emerging marketplaces Etsy, RealReal, Mercari and Poshmark, down from 7.6x larger in 2018," Fitzgerald wrote. He cut his price target to $32 from $45. Shares are off 8% over the past three months, while the S&P 500 has gained 11%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Analysen zu eBay Inc.mehr Analysen

28.01.20 eBay Underperform Jefferies & Company Inc.
22.10.19 eBay Hold Deutsche Bank AG
11.10.19 eBay Outperform Credit Suisse Group
04.09.19 eBay Neutral UBS AG
18.07.19 eBay Outperform Credit Suisse Group

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