What Happened?
Shares of online marketplace eBay (NASDAQ: EBAY) jumped 3.1% in the afternoon session after analysts at both TD Cowen and Morgan Stanley raised their price targets on the stock, signaling positive expectations. TD Cowen increased its price target to $84 from $80, although it kept a Hold rating on the stock. The firm cited an expected pickup in Gross Merchandise Volume (GMV), a key sales metric, for the third quarter of 2025. This positive forecast was attributed to the continued strength in U.S. consumer spending and helpful foreign exchange conditions. Adding to the positive sentiment, Morgan Stanley also lifted its price target on eBay to $102 from $89, while it maintained an Overweight rating on the shares.
After the initial pop the shares cooled down to $94.95, up 3.2% from previous close.
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What Is The Market Telling Us
eBay’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 12 months ago when the stock dropped 20.8% on the news that the company reported third-quarter earnings and provided revenue guidance for the next quarter, which missed analysts' expectations. In addition, its EBITDA fell short of Wall Street's estimates. Overall, this quarter could have been better.
eBay is up 52.5% since the beginning of the year, and at $94.95 per share, it is trading close to its 52-week high of $100.77 from August 2025. Investors who bought $1,000 worth of eBay’s shares 5 years ago would now be looking at an investment worth $1,752.
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