Core Viewpoint - Wedbush raised eBay's target price from $90 to $95 while maintaining a "Neutral" rating [1] Summary by Category - **Target Price Adjustment** - eBay's target price has been increased to $95 from the previous $90 [1] - **Rating** - The rating for eBay remains "Neutral" despite the target price increase [1]

Core Viewpoint - eBay's CEO highlights the potential benefits of the US-China tariff agreement for small businesses and eBay's marketplace, indicating a positive outlook for the upcoming holiday season despite a lowered guidance for growth [1][2][6]. Group 1: Business Performance - eBay reported a strong quarter with a Gross Merchandise Volume (GMV) growth of 8% and a 13% year-on-year growth in the US business, which is considered a standout performance [4]. - The focus categories that eBay has invested in saw a year-on-year growth of 15%, indicating broad-based strength across various price points and categories [4][5]. - The company enters the holiday season with significant momentum, driven by strong consumer demand, particularly in the US market [5][7]. Group 2: Market Strategy - eBay's strategy focuses on providing value through used, pre-loved, and refurbished products, appealing to consumers looking for cost-effective options, especially in challenging economic conditions [8]. - The company is leveraging AI to enhance productivity and innovation, including features like visual intelligence for product listings and a new AI shopping assistant [11][12]. - eBay is investing in live commerce, which has shown substantial growth, with a reported run rate five times higher than the previous year [12][14]. Group 3: Financial Outlook - Despite a strong performance, eBay has provided guidance for a growth rate of 4% to 6% for the next year, which is characterized as strong mid-single-digit growth [6]. - The company maintains a disciplined approach to capital expenditures, spending about 4% to 5% of revenue, while efficiently utilizing its AI capabilities to drive technology advancements [15][16].

Core Insights - EBay's stock experienced a significant decline of 16.4% despite reporting better-than-expected quarterly results, indicating investor concerns over margin weakness and forward guidance [1][3]. Financial Performance - EBay reported non-GAAP adjusted earnings per share (EPS) of $1.36 on revenue of $2.82 billion for Q3, surpassing Wall Street's estimates of $1.33 EPS and $2.73 billion in revenue [3]. - Year-over-year sales increased by approximately 9%, while adjusted EPS rose by 14% compared to the same quarter last year [3]. - The company's operating margin fell from 23.1% in the previous year to 20.4% in the current quarter, with adjusted operating margin slightly declining from 27.2% to 27.1% [3]. Forward Guidance - EBay provided a sales guidance for Q4 between $2.83 billion and $2.89 billion, exceeding the average Wall Street target of $2.79 billion [4]. - However, the guidance for adjusted EPS in Q4 is projected to be between $1.31 and $1.36, which is below the average analyst estimate of $1.39 [5]. - The anticipated margin weakness has led investors to assign lower valuation multiples to EBay's stock [5].

Group 1 - The article discusses the ten large-cap stocks that performed the worst in the previous week, raising questions about their inclusion in investment portfolios [1] - It highlights the potential implications for investors who may hold these stocks, suggesting a need for reassessment of their investment strategies [1] Group 2 - The focus is on identifying the specific stocks that underperformed, which could indicate broader market trends or sector-specific issues [1] - The article implies that understanding the reasons behind the poor performance of these stocks is crucial for making informed investment decisions [1]

Core Insights - eBay Inc. is valued at a market cap of $37.2 billion and operates one of the largest e-commerce marketplaces globally, connecting millions of buyers and sellers across over 190 markets [1] Performance Overview - eBay's shares have surged 29.8% over the past 52 weeks, outperforming the S&P 500 Index, which gained 17.7% during the same period [2] - Year-to-date, eBay's stock is up 31.3%, compared to a 16.3% rise in the S&P 500 Index [2] - However, eBay has underperformed the ProShares Online Retail ETF, which returned 36.7% over the past 52 weeks and 34.1% year-to-date [3] Financial Results - eBay reported Q3 earnings on October 29, with revenue increasing 9.5% year-over-year to $2.8 billion, surpassing consensus estimates by 2.9% [4] - The adjusted EPS for Q3 was $1.36, reflecting a 14.3% increase from the previous year and exceeding analyst expectations by 2.3% [4] - Despite positive earnings, eBay's shares fell 15.9% in the following trading session due to a weaker-than-expected Q4 profit outlook and stagnant active buyer numbers year-over-year [4] Future Expectations - Analysts project eBay's EPS to grow 12.5% year-over-year to $4.42 for the current fiscal year ending in December [5] - eBay has a strong earnings surprise history, having exceeded or met consensus estimates in the last four quarters [5] Analyst Ratings - Among 33 analysts covering eBay, the consensus rating is a "Moderate Buy," with a distribution of ratings including nine "Strong Buy," two "Moderate Buy," 20 "Hold," one "Moderate Sell," and one "Strong Sell" [5] - The analyst sentiment has slightly improved, with eight analysts now suggesting a "Strong Buy" rating [6] - Wedbush maintained a "Hold" rating on eBay with a price target of $90, indicating a potential upside of 10.7% from current levels [6]

Group 1 - The article discusses stocks of interest for potential portfolio addition, targeting both beginners and advanced readers with a clear perspective [1] - The author emphasizes a personal approach to analyzing business and economics, indicating a full-time commitment to market analysis [1] Group 2 - There is a disclosure stating that the author has no current or planned stock positions in the mentioned companies, ensuring transparency [2] - The article expresses personal opinions and does not provide compensation for the content, aside from Seeking Alpha [2]

Group 1 - The article discusses stocks of interest for potential portfolio addition, targeting both beginners and advanced readers with a clear perspective [1] - The author operates a YouTube channel named "The Market Monkeys," where stock analyses are shared [1] Group 2 - There is a disclosure stating that the author has no current or planned positions in any mentioned companies within the next 72 hours [2] - The article expresses personal opinions and is not compensated beyond the platform it is published on [2]

Group 1 - UBS has lowered eBay's target price from $100 to $95 while maintaining a "Neutral" rating [1]

Group 1: Hong Kong Stock Market Updates - China Metallurgical Group (01618) saw a decline of over 5%, reporting a revenue of 335.09 billion yuan for the first three quarters, a year-on-year decrease of 18.79%, and a net profit of 3.97 billion yuan, down 41.88% [1] - Fosen Pharmaceutical (01652) surged nearly 74% after announcing that its subsidiary received approval for the "Enzalutamide Soft Capsule" from the National Medical Products Administration of China [1] - Sanhua Intelligent Control (02050) increased over 3%, with a revenue of 24.03 billion yuan for the first three quarters, a year-on-year growth of 16.86%, and a net profit of 3.24 billion yuan, up 40.85% [1] - Rongchang Biopharmaceutical (09995) rose over 5%, reporting a revenue of approximately 1.72 billion yuan, a year-on-year increase of 42.27%, and a net loss of about 551 million yuan, narrowing by 48.6% [1] - New Special Energy (01799) fell nearly 8%, with a revenue of 11.66 billion yuan and a net loss of 526 million yuan for the first three quarters [1] Group 2: Additional Hong Kong Stock Market Updates - Chuny Medical (01858) increased over 10%, reporting a revenue of 756 million yuan, a year-on-year growth of 48.75%, and a net profit of 192 million yuan, up 213.21% [2] - Innovent Biologics (01801) rose over 4%, achieving total product revenue exceeding 3.3 billion yuan in Q3, maintaining a strong year-on-year growth of about 40% [2] - Longpan Technology (02465) increased over 6%, with a revenue of approximately 5.83 billion yuan, a year-on-year growth of 2.91%, and a net loss of about 110 million yuan, narrowing by 63.53% [2] - 3SBio (01530) saw an early morning increase of nearly 7%, following a significant deal with Pfizer worth up to $12.5 billion [2] - China CNR Corporation (01766) fell over 8%, reporting a revenue of approximately 183.87 billion yuan, a year-on-year increase of 20.49%, and a net profit of about 9.96 billion yuan, up 37.53% [2] Group 3: US Stock Market Updates - Carvana (CVNA.US) dropped over 13%, reporting a Q3 revenue growth of 54.5% to $5.65 billion, exceeding analyst expectations [3] - Alphabet (GOOGL.US) rose nearly 2%, with Q3 revenue surpassing $100 billion, driven by strong AI demand boosting cloud business [3] - Meta Platforms (META.US) fell over 11%, reporting Q3 revenue of $51.2 billion, a 26% year-on-year increase, but net profit significantly below expectations due to a one-time tax expense [4] - Bitcoin-related stocks experienced declines, with Strategy (MSTR.US) down nearly 7% and Coinbase (COIN.US) down over 5% [4] - eBay (EBAY.US) plummeted 15%, marking its largest drop in over 20 years despite exceeding sales expectations [4] Group 4: Additional US Stock Market Updates - Comcast (CMCSA.US) fell 4%, losing 104,000 broadband users in Q3, marking the tenth consecutive quarter of user decline [5] - CoreWeave (CRWV.US) dropped over 6% after shareholders rejected a proposed acquisition [5] - Roblox (RBLX.US) fell over 15%, reporting Q3 revenue of $1.4 billion, a 48% year-on-year increase, but widening net losses [5] - Moderna (MRNA.US) rose over 13%, reportedly in talks for a large-scale acquisition with a major pharmaceutical company [6] - Altria (MO.US) fell over 7%, reporting adjusted EPS of $1.45, in line with market consensus, but net revenue declined by 1.7% [6]

Core Viewpoint - The U.S. stock market experienced significant volatility, with major indices showing mixed performance, particularly in the tech sector, where several large companies faced substantial declines [1][3]. Group 1: Market Performance - The Nasdaq index fell by 0.93%, while the Dow Jones increased by 0.72%, indicating a divergence in market trends [3]. - Major tech stocks suffered losses, with Meta dropping nearly 13%, Tesla and Oracle down over 4%, and Broadcom down over 3% [3]. - eBay's stock plummeted over 15%, marking its largest drop since 2008, despite reporting a 9% year-over-year sales increase to $2.82 billion [4]. Group 2: Cryptocurrency Market - The cryptocurrency market faced a significant downturn, with Bitcoin and Ethereum both dropping over 3%, leading to over $11 billion in liquidations and affecting more than 210,000 traders [4][5]. - The decline in cryptocurrency prices also impacted related stocks, with companies like Canaan and Coinbase experiencing notable drops [4]. Group 3: Gold and Silver Prices - In response to rising market risk aversion, gold prices increased by 1.65% to $3,994.26 per ounce, while silver prices surged by 2.61% to $48.72 per ounce [5]. Group 4: AI Bubble Discussion - Discussions around a potential AI bubble are intensifying, with UBS noting that six out of seven conditions for bubble formation are currently present [7]. - The report highlights that the current P/E ratio for major tech companies is 35, significantly lower than the 60 seen during the dot-com bubble, suggesting that while enthusiasm exists, extreme valuation levels have not yet been reached [8]. - UBS warns that if a bubble exists, it may manifest in high profit margins for tech and semiconductor stocks, which could face pressure from increased competition [9].