Wedbush Cuts Price Target on eBay (EBAY) Following 3Q Beat

Wedbush maintained a Neutral rating on eBay (NASDAQ: EBAY), and cut the price target to $33.00 (from $34.00), following the company's 3Q earnings report. Revenue of $2.22b grew 8% YoY FXN and topped consensus of $2.19 billion and the guidance range of $2.16-2.19b. Non-GAAP EPS of $0.45 beat consensus by a penny.

Analyst Aaron Turner commented, "We believe EBAY will continue to benefit from the secular growth of ecommerce as initiatives such as site/mobile improvements and structured data help slow the rate of market share erosion."

For an analyst ratings summary and ratings history on eBay click here. For more ratings news on eBay click here.

Shares of eBay closed at $32.52 yesterday.

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