EBAY Stock Price: Why eBay Deserves A Price Target of $70
The article was written by Motek Moyen Research Seeking Alpha’s #1 Writer on Long Ideas and #2 in Technology – Senior Analyst at I Know First.
Summary
- I reiterate the April 25, 2019 buy recommendation I made for eBay’s stock. The stock is now trading well above that day’s closing price of $38.52.
- The recent sale of its Classifieds advertising unit should help EBAY deliver my 1-year price target of $70. The 52-week high of EBAY is only $61.06.
- I’m highly confident that the rising cases of COVID-19 infections will strengthen the tailwind for e-commerce sites like eBay. Online shopping is greatly boosted during pandemics.
- Many people who lost jobs due to pandemic-induced lay-offs are selling their possessions on eBay. This should boost eBay’s 2020 revenue.
- The predictive AI of I Know First has a bullish one-year forecast for eBay’s stock. We should take I Know First’s advice.