eBay Slid This Past Month: Why a Leading Analyst Expects 32% Growth Ahead Anyway

2 weeks ago 21

Alex Sirois

Sat, August 8, 2026 astatine 9:30 AM CDT 5 min read

Quick Read

eBay dropped 4% past period aft Q3 EPS guidance missed Q2's $1.60 mark, prompting Wells Fargo to slash its people to $92 connected Depop drag.
BMO's Brian Pitz acceptable a Street-high $145 people connected EBAY, pointing to Focus Categories driving implicit 40% of GMV and AI seller tools lifting margins.
ETSY present trades supra its ain statement terms target, portion AMZN's 19% implied upside inactive trails BMO's lone 32% bull telephone connected eBay.
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Shares of eBay (NASDAQ:EBAY) presently commercialized astatine $110.14, portion BMO Capital Markets carries a Street-high terms people of $145. That spread implies astir 32% upside if the bull lawsuit plays out.

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eBay runs 1 of the largest online marketplaces successful the world, with brands including eBay, Depop, Goldin, and Tise. Wall Street has circled the sanction arsenic the marketplace executes a turnaround focused connected collectibles, refurbished electronics, luxury, and car parts. The latest 4th showed GMV of $22.4 cardinal and gross maturation of 14.8% twelvemonth implicit year.

The dislocation matters due to the fact that the mean Wall Street people of $110.29 sits fundamentally astatine the existent quote. BMO stands unsocial arsenic the outlier bull, and shares person slipped adjacent arsenic fundamentals accelerated.

Why the Stock Slipped After a Strong Quarter

Guidance did the damage. eBay guided Q3 adjusted EPS to $1.36 to $1.42, down sequentially from the $1.60 delivered successful Q2. Traders work that arsenic absorption flagging unit from the Depop acquisition, including integration costs and higher selling walk for the Gen Z manner resale platform.

Wells Fargo downgraded eBay to Underweight and chopped its people to $92 from $105, citing concerns that Depop could measurement connected fiscal 2027 earnings. Shares fell 3.98% implicit the past month, underperforming the broader market.

The absorption was mild by eBay standards. Shares inactive beryllium wrong scope of the 52-week precocious of $118.98, suggesting a post-guidance wobble.

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BMO's Bull Case: Focus Categories, Live Commerce, and AI

BMO's Brian Pitz raised his people to $145 from $130 aft Q2. His thesis rests connected 3 pillars: Focus Categories present relationship for implicit 40% of full GMV and are accelerating; recommerce and live-commerce integrations thrust deeper engagement with high-value enthusiast buyers; and generative AI merchant tools propulsion operating leverage done faster listings, representation enhancement, and sharper advertisement targeting.

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