Baird analyst Colin Sebastian says Meta Platforms’ (META) move to publish listings from eBay (EBAY) on Facebook Marketplace is a “clear positive” for eBay. Meta’s decision expands eBay’s reach to new buyers in or out of the seller’s local market,” the analyst tells investors in a research note. The firm says this “should mitigate the competitive overhang” on eBay from Facebook Marketplace’s emergence as a major e-commerce platform. Baird keeps an Outperform rating on the shares with a $68 price target. eBay in late morning trading is up 11%, or $6.95, to $70.12.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
