These Analysts Raise Their Forecasts On eBay After Better-Than-Expected Q3 Results

eBay Inc (NASDAQ:EBAY) on Wednesday reported upbeat third-quarter financial results.

eBay reported third-quarter revenue of $3.206 billion, up 14% year-over-year. The revenue total beat a Street consensus estimate of $3.114 billion, according to data from Benzinga Pro.

Gross Merchandise Volume was $23.2 billion in the quarter, up 15% year-over-year. The company reported earnings of $1.51 per share, beating a Street consensus estimate of $1.41 per share.

“eBay’s strong third quarter results reflect continued momentum across our business priorities and customer segments as more consumers embrace recommerce,” eBay CEO Jamie Iannone said.

eBay shares gained 6% to $125.00 in pre-market trading.

These analysts made changes to their price targets on eBay following earnings announcement.

• Needham analyst Bernie McTernan maintained the stock with a Buy and raised the price target from $135 to $140.
• Rosenblatt analyst Scott Devitt maintained the stock with a Buy and raised the price target from $132 to $137.

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