Innovation Is Not Helping EBay Inc. (NASDAQ:EBAY)
eBay Inc. (NASDAQ:EBAY)’s online platform might be a happening place for auctioneers and buyers to avail great discounts and value for their money on many of leading merchandize but the stock of eBay Inc. is certainly not-so-happening investment. The stock has traded flat year to date with less than a percent increase in its price.
EBay Inc. (NASDAQ:EBAY)’s stock has significantly underperformed the broader indices, S&P 500 (INDEXSP:.INX) and Dow Jones Industrial Average (INDEXDJX:.DJI) which have delivered over 25% and 20.5% returns year to date, respectively.
Earlier this week the stock of eBay Inc. (NASDAQ:EBAY) was downgraded to ‘equal weight’ by equities research analysts at Evercore. More recently analysts at CRT Capital also initiated coverage on the stock of the company with a ‘fair value’ rating and price objective of $58 which suggest potential upside from its previous closing of $51.41.
Though the current week’s recommendations are not so positive for the stock of eBay Inc. (NASDAQ:EBAY), overall the analysts maintain a ‘buy’ rating with a mean price target of $61.92. Of 39 analysts following the stock, 14 have given a rating of ‘strong buy’; 19 have given rating of ‘buy’ and 6 analysts maintain a ‘hold’ rating for the stock.
eBay, Innovations and Digital Comics
While eBay Inc. (NASDAQ:EBAY)’s stock prices are not lifting, there is no denial about the continuous innovations being pursued by this online auctioneer to change the shopping experience for buyers as well as for sellers and even for window shoppers.
Earlier we discussed about digital storefronts using connected glass and mobile technology that allowed Sony Corporation (ADR) (NYSE:SNE), Fifth & Pacific Companies Inc. (NYSE:FNP) and other retailers to offer range of products on a large glass windows. And now eBay Inc. is partnering with comiXology to offer a dedicated marketplace for digital comics which will allow to browse and view collections by character.