eBay Inc. (EBAY) is once again being coverad by the research analyst at investment firm Wedbush. Wedbush resumes this new coverage of EBAY by increasing their perform price target of $34 to $35 dollars and rates EBAY as “neutral.” It is notable that Wedush said they believe eBay should be able to sustain double-digit organic top line growth. Wedbush further noted that PayPal growth is accelerating, which is owned by eBay.
EBAY is up during today’s intraday and broke above resistance of $34.65 which was last set on April 28th, 2011. As such, EBAY continues to portray which direction bias underlying shares is being driven to; to the upside. Notably, a new 52-week high is close to being set and would be met should shares rise above the $35.35 price mark which is not far off from where shares current rest.
eBay is slated to release their next earnings report on October 19th, 2011, and is estimated to post EPS of 47 cents. Their last earnings report was released yesterday on July 20th, 2011, and announced EPS of 48 cents with revenue totaling $2.760 billion which was up 24.6% year to year. EBAY is currently trading above its 50 & 200-day moving averages and 2011 is an up down year for the company.
eBay Inc. provides online marketplaces for the sale of goods and services as well as other online commerce, or ecommerce, platforms and online payment solutions to a diverse community of individuals and businesses. The company has market capitalization of $44,634,746,610 and 1,297,899,000 shares outstanding. EBAY has a 52-week high of $35.35 with the low being $20.03 dollars.