eBay (EBAY) is making significant strides in enhancing digital experiences for both buyers and sellers through innovative generative AI-powered tools, according to executives during the Q2 2024 earnings call on Wednesday.
The company has recently introduced “Shop the Look,” allowing customers to visualize how different items would look together, and “Explore,” which recommends options based on a customer’s size, style, and other attributes. Currently, eBay is testing “Explore” in the U.K., with plans to add further personalization and filtering options soon.
In its second-quarter 2024 earnings report, eBay announced an EPS of US$0.45, a notable increase from US$0.32 in Q2 2023. Wall Street analyst Lee Horowitz from Deutsche Bank reiterated a buy rating on the stock with a target price of $64.00.
Investment activity has also been robust, with SteelPeak Wealth LLC purchasing a new position in eBay during the fourth quarter valued at approximately $1,767,000. Allspring Global Investments Holdings LLC significantly increased its stake in eBay by 604.4% during the same period, now owning 630,956 shares valued at $27,522,000 after acquiring an additional 541,384 shares.
Benchmark analyst Daniel Kurnos raised his price target on eBay (NASDAQ: EBAY) to $65.00 (from $58.00) while maintaining a Buy rating.
Savant Capital LLC raised its holdings by 2.3% in the fourth quarter, owning 11,411 shares valued at $498,000 after acquiring 262 shares. Van ECK Associates Corp lifted its stake in eBay by 25.0% in the first quarter, now holding 85,688 shares worth $4,523,000 after acquiring an additional 17,143 shares.
Raymond James & Associates boosted its holdings by 6.9% in the first quarter, owning 873,900 shares valued at $46,124,000 after acquiring an additional 56,148 shares. Institutional investors now own 87.48% of the company’s stock.
eBay’s continued growth and strategic investments are positioning it well for future success, making it an attractive option for investors.
EBay pays a quarterly cash dividend of 0.27 per Class A Common Stock share. The quarterly cash dividend was payable on June 14, 2024, to stockholders of record on May 31, 2024.
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