Shares of eBay are on track for their largest daily percentage increase since Feb. 1, 2018.
Meta is set to start displaying eBay listings in its own Facebook Marketplace classifieds platform, in an effort to appease European regulators.
Meta Platforms Inc (NASDAQ:META, ETR:FB2A, SWX:FB) has announced plans to trial showing eBay Inc listings on its Facebook Marketplace in order to comply with a landmark European antitrust ruling. Users in Germany, France and the US will see listings from eBay on Facebook and be redirected to the rival platform to complete purchases, Meta said on Wednesday.
Meta said on Wednesday it would launch a test in Germany, France and the United States that will enable buyers to browse listings from eBay on Facebook Marketplace and then complete their transactions on eBay.
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eBay Inc (NASDAQ:EBAY, ETR:EBA) shares shed more than 3% after the online marketplace was downgraded to ‘Underperform' by Jefferies analysts. They also reduced their price target on the stock to $52 from $60, representing $32 per share for the marketplace, $15 for advertising and $5 for outside investments.
Shares of eBay (EBAY) fell after analysts at Jefferies downgraded the auction site Tuesday based on slowing advertising revenue growth.
eBay Inc (NASDAQ:EBAY) stock is 3.4% lower ahead of the open, following a bear note from Jefferies.
Analysts downgrade shares of the online commerce cite to Underperform from Hold and slash the stock's price target.
EBAY's prospects improve, driven by its expanding product portfolio. However, slow active user growth and intense competition are concerning.
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eBay (EBAY) reported earnings 30 days ago. What's next for the stock?