The specialty e-commerce company reported better-than-expected Q2 results and offered an upbeat forecast last week.
EBay (EBAY) is emerging as an unlikely winner among major retail companies even as they face significant pressure from President Donald Trump’s tariffs.
Institutional and retail investors rallied behind the specialty e-commerce company, which reported better-than-expected second-quarter results and offered an upbeat forecast.
EBAY shares climbed over 18% on Thursday, their best intraday performance since at least late 2017, to their all-time high of $91.75, according to Koyfin data. For the entire week, the stock rose 12.7%, notching the best performance among consumer stocks.
The company said eBay’s focus is on select product categories that appeal to enthusiastic buyers, such as sneakers, trading cards, watches, and handbags, and is drawing in business amid broadly weak consumer activity
“$EBAY how is this stock so immune from market movements? Who even still uses eBay???” a user remarked, while several posted positively about the earnings report.
Retail sentiment on Stocktwits climbed to ‘extremely bullish’ as of late Sunday, from ‘bullish’ the previous day.
Research firms, including Susquehanna, Needham, and Truist, raised their price target on the stock following the company’s quarterly report.
“eBay is accelerating because of the strength of their focus categories and investment in platform tools like live commerce, allowing them to benefit from improving macro conditions and taking market share,” Needham said, according to the investor note summary on The Fly.
The results showed “solid execution,” Truist said.
Currently, over 90% of the 40 analysts covering eBay have a ‘buy’ or higher rating on the company’s shares, according to Koyfin.
Ebay stock is up 48% year-to-date, while shares of bigger rival Amazon are down 2% and those of Etsy (ETSY) are up only 11%.
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