It’s not every day you hear ET and the Virgin Mary mentioned in the same sentence.
But all you have to do is add eBay (EBAY) and it all makes perfect sense.
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The list of bizarre things put up for sale on the online-auction platform goes on for miles and includes such gems as a ghost in a jar, a haunted rubber ducky and the entire country of Iceland, lock, stock and fjords.
And, yes, there was also a single piece of the Kellogg’s breakfast cereal Nutri-Grain that had a slight resemblance to the lovable movie alien offered on eBay, as well as a grilled cheese sandwich that supposedly bore the image of the Virgin Mary.
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Funded as AuctionWeb in 1995, eBay was one of the first and most prominent online marketplaces. However, the company has been contending with shrinking market share and increasing competition.
The company’s stock soared early this year following an announcement that Meta Platforms (META) will allow some listings to show up on Facebook Marketplace.
EBay’s CEO said the company has grown despite economic challenges.
Sean Gallup/Getty Images
EBay CEO notes growth despite economy
The rollout began with a test in Germany, France and the U.S., where buyers will be able to view listings directly on Marketplace and complete the rest of their transactions on eBay.
EBay’s shares had tumbled in February when the company forecast first-quarter revenue to grow at 1% at best, apparently disappointing investors who had hoped for better numbers in light of the Facebook connection.
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“We ended 2024 with three consecutive quarters of positive growth in gross merchandise volume despite continued challenges in the global economy,” Chief Executive Jamie Iannone told analysts in February during the company’s fourth-quarter earnings call.
Chief Financial Officer Steve Priest that eBay “delivered strong results in the fourth quarter, as we met or exceeded expectations across our key financial metrics.”
“We created a solid foundation to build upon in 2025, and our outlook reflects our confidence in eBay’s ability to drive sustainable, long-term growth,” he said in a statement.
Analyst trims eBay price target
Wells Fargo lowered its price target on eBay to $62 from $64 and affirmed an equal weight rating on the shares, according to The Fly.
The investment firm says macroeconomic uncertainty is yet to be reflected in consumer-demand trends. It’s more likely to appear in Q2, Wells Fargo says.
As a result, Wells Fargo expects more focus on Q2 commentary compared with Q1 results. The firm sees increasing risk to Wall Street expectations for flat year-over-year operating-income margins in 2025.
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Goldman Sachs recently included eBay in its so-called Incentive Portfolio of stocks that the investment firm recommends in the event of a trade war.
President Donald Trump announced sweeping reciprocal tariffs at White House on April 2, and U.S. allies have vowed to retaliate.
The firm’s analysts have warned that the U.S. economy faces a sharply higher risk of recession over the next 12 months as tariffs reduce growth, stoke inflation and deepen the market’s first-quarter decline.
At last check in a broadly down April 3 market, eBay shares were off 1.3% at $66.56. In 2025 through April 2, eBay stock was 8.8% higher.
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