On May 1, 2024, eBay (NASDAQ: EBAY) will announce its financial results for the first quarter of the fiscal year.
In the most recent quarter, the firm’s net revenues increased 2% year-over-year to $2.6 billion, better than the street predictions. A 2% increase in gross merchandise value and a 33% increase in first-party advertising product revenues drove the increase.
In March, eBay’s management gave presentations at two investor conferences, which could have prompted additional analysts to rate the company formally. The Fly reports that on March 8, Argus Research analyst Joseph Bonner increased his price target for the stock from $58 to $58 per share, a 13% increase from its current trading price.
Recently, Morgan Stanley also upgraded the stock. CWEB Analyst believes implementing AI and other new features will further drive the stock up.
Several institutional investors and hedge funds have recently modified their holdings in the company. During the first quarter, Capital Investment Advisory Services LLC acquired a new position in eBay shares valued at $213,000. Zurich Cantonal Bank During the first quarter, Zurich Cantonalbank increased its ownership in eBay shares by 18.2%.
Zurich Cantonal Bank Zurich Cantonalbank currently possesses 617,012 shares of the e-commerce company’s stock, valued at $32,566,000. This acquisition includes an additional 94,889 shares obtained during the previous quarter.
The Fourth Swedish National Pension Fund, Fjarde AP Fonden, increased its ownership in eBay shares by 7.0% in the first quarter.
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