Shares of eBay (EBAY) are up $1.29, or 4.4%, at $30.88 after Raymond James’s Aaron Kessler this morning raised his rating on the stock to Strong Buy from Market Perform, with a $39 price target, given what he expects to be “solid” results this quarter in both the “MarketPlace” division and in PayPal.
eCommerce firm ChannelAdvisor Friday said same-store sales in November for eBay, by its measure, were up 18%, year over year, double the rate of growth of the prior-year period, and ahead of Q3′s 16.7% rise, writes Kessler.
Kessler thinks that dovetails well with data from Chase’s “Cyber Holiday Pulse Index,” showing 25% year-over-year growth in commerce sales from November 1st to December 1st, and ComScore estimates for a 15% increase in holiday sales thus far.
Kessler also sees eBay improving its results through some recent measures it has taken, including “1) shift to fixed price sales; 2) surfacing of top rated sellers (TRS); 3) improved site search; 4) adoption of free shipping; and 5) vertical shopping experiences in key categories.”
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