What Happened?
Shares of online marketplace eBay (NASDAQ:EBAY) jumped 5.6% in the afternoon session after Morgan Stanley designated the stock a top pick with a Buy rating and raised its price target to $132. According to Streetinsider, analyst Nathan Feather raised the price target to $132 from $127 and kept an Overweight rating, naming eBay his top pick. He said U.S. live commerce has grown more than fivefold over two years, to $27 billion, and that live selling accounts for 40% or more of eBay’s fiscal 2026 gross-merchandise-volume growth. He called it the missing piece behind the recent acceleration. The firm estimates live commerce alone can add about four percentage points to annual volume growth from fiscal 2026 through fiscal 2030, enough to hold volume growth well above consensus.
After the initial pop, the shares cooled down to $116.05, up 3.4% from the previous close.
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What Is The Market Telling Us
eBay’s shares are not very volatile and have only had 6 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 12 months ago when the stock dropped 15.1% on the news that the company reported third-quarter financial results that were overshadowed by a weaker-than-expected profit forecast for the crucial holiday quarter. While the online marketplace beat Wall Street's revenue expectations in its third quarter with sales up 9.5% year on year to $2.82 billion, its guidance for the next quarter fell short. The company expected adjusted earnings per share between $1.31 and $1.36, below analysts' average estimate of $1.39. The downbeat forecast raised concerns amid ongoing macroeconomic uncertainty. In a statement, CEO Jamie Iannone noted that eBay continued to see macroeconomic challenges across international markets. Adding to the concerns, the total number of active buyers was flat compared to the previous year, highlighting ongoing challenges in attracting new users.
eBay is up 33.3% since the beginning of the year, and at $116.05 per share, it is trading close to its 52-week high of $118.96 from May 2026. Investors who bought $1,000 worth of eBay’s shares 5 years ago would now be looking at an investment worth $1,554.
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