eBay stock is up 26% YTD and is expected to beat revenue and earnings estimates

From Nasdaq: 2024-07-30 22:08:43

– eBay stock has gained 26% YTD, outperforming the S&P 500 which rose by 13%. The company is set to report fiscal Q2 2024 results on July 31, with expectations to beat revenue and earnings estimates. In Q1, net revenues increased by 2% y-o-y to $2.56 billion, driven by focus categories and higher take rate.

– Despite a 20% increase in EBAY stock this year, it has shown inconsistent returns, underperforming the S&P 500 in 2022 and 2023. Trefis forecasts a valuation just below $53 per share, indicating a 3% downside. The company’s revenues in FY2023 grew by 3%, with a forecast of $10.28 billion in FY2024.

– For fiscal Q2 2024, Trefis predicts eBay’s net revenues to reach $2.54 billion, surpassing the consensus estimate by 1%. Adjusted EPS is expected to be $1.14, slightly below the consensus of $1.12. The company’s net income improved significantly in FY 2023, and a positive trend is expected to continue in Q2.

– eBay’s stock price estimate is 3% below the current market price, based on a revenue per share estimate of $20.40 and a P/S multiple of 2.6x in fiscal 2024. Cumulatively, eBay has returned 100% since 2017, compared to the S&P 500’s 141%. The Trefis Reinforced Value Portfolio has seen returns of 691% during the same period.



Read more at Nasdaq: eBay Stock Is Up 26% YTD, What To Expect From Q2 Earnings?