Bernstein upgrades shares of eBay, says buy the post-earnings dip

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Bernstein upgrades shares of

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, says buy the post-earnings dip

Bernstein thinks investors shouldn’t give up on

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despite a recent sell-off. Analyst Nikhil Devnani upgraded the online marketplace to outperform from market perform. He also maintained his price target at $70, which reflects more than 16% upside from Monday’s close. The analyst cited improving growth trends as a catalyst for the upgrade. He sees ****** merchandise volume growth of around 2% heading into next year. For 2026, Devnani thinks that can expand to 3%. “While growth rates at

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aren’t heroic, we believe proving to the Street that it is a ‘steady grower’ and not a ‘melting ice cube’ offers room for upside the stock,” he wrote in a Tuesday note. With earnings per share and margins set to expand as a result of this, the analyst believes that a recent sell-off provides an attractive entry point for investors.

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YTD mountain

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, year-to-date Last week, the stock fell 8% on the heels of a weaker-than-expected forecast for the current quarter . That’s despite the company’s third-quarter results topping the Street’s estimates. “The stock reacted poorly to Q3 because of go-forward take rate and margin dynamics,” Devnani said. “We cut our margin

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, but EBIT dollars should continue to grow **** to MSD in 2025/26.” “The turnaround is taking shape, and the post-Q3 sell off presents an opportunity,” he added. Shares were up more than 1% in the premarket following the upgrade. Year to date, the stock, is up 38%. LSEG data shows analyst sentiment on the stock is tepid, however. Of the 34 analysts covering

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, 22 have a hold rating on it; 10 others rate it a buy or strong buy.

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#Bernstein #upgrades #shares #

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#buy #postearnings #dip

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