- Needham analyst Anna Andreeva initiated coverage on eBay Inc (NASDAQ:EBAY) with a Hold rating.
- Andreeva expressed optimism over eBay’s innovative initiatives brought by its new management team (focus categories, authentication, Vault).
- She saw that regaining consumer mind share lost to niche vertical platforms domestically like StockX, The RealReal, Inc (NASDAQ:REAL), Poshmark, Inc (NASDAQ:POSH), and internationally like Alibaba Group Holding Limited (NYSE:BABA) will take time, especially given the consumer discretionary backdrop.
- She saw 2Q22 was in line with expectations, although with GMV under pressure, and viewed management’s near to medium-term top-line goals and sell-side estimates for ’23/’24 at risk.
- YTD, EBAY stock has been one of the better performers in her space, benefiting from a ~2% dividend yield and share buybacks.
- However, in the absence of top-line stabilization, valuation could contract, she added.
- Price Action: EBAY shares traded higher by 0.70% at $48.97 on the last check Monday.
A Power Outage At JFK Terminal 1 Is Impacting The Terminal’s Ability To Accept Inbound And Outbound Flights. We Are Working To Accommodate Impacted Flights Using Other Terminals
John F Kennedy Airport's Terminal 1 serves Aeroflot, Aero Mexico, Air China, Air France, AirPlus Comet, Alitalia, Austrian Airlines, Cayman Airways, China Airlines, China Eastern, Japan Airlines, Korean Air,
