eBay
Online auction house eBay Inc. (NASDAQ: EBAY) has posted a share price decline of about 20.1% over the past 12 months. The stock has bounced off a 52-week low in mid-October to add more than 34% since. Last week, the company acquired a marketplace policing company to monitor seller behavior, including the sale of counterfeit goods. Rival Etsy was scorched by short-seller Citron Research a few days later for selling mounds of counterfeit products on its marketplace. eBay also has taken steps to boost its take rate but may face some ad sales headwinds in the near term.
Of 31 brokerages covering the stock, nine have a Buy or Strong Buy rating and 19 rate the shares at Hold. At trading price of about $48.20, the shares trade above their median price target of $47.00. At the high target of $62.00, the potential upside is about 28.6%.
Analysts expect fourth-quarter revenue of $2.46 billion, up 3.4% sequentially and down by 5.7% year over year. Adjusted EPS for the quarter are forecast at $1.06, up 6.1% sequentially and a penny higher year over year. For the full year, analysts estimate EPS of $4.11, up about 2.2%, on revenue of $9.75 billion, down 6.5%.
Shares trade at 11.7 times expected 2022 EPS, 11.4 times estimated 2023 earnings of $4.23 and 10.2 times estimated 2024 earnings of $4.71 per share. The stock’s 52-week range is $35.92 to $60.38. eBay pays an annual dividend of $0.88 (yield of 1.77%). Total shareholder return for the past 12 months is negative 11.86%.
Lucid
Electric vehicle (EV) maker Lucid Group Inc. (NASDAQ: LCID) made its public market debut in a SPAC merger late in July 2021. Shares doubled in value within four months, but the stock has dropped 80% since. In the first seven weeks of 2023, the shares are up about 60%, thanks to a reported potential buyout by its controlling shareholder (60%), Saudi Arabia’s Public Investment Fund, and a recent announcement from the Biden administration of support for a much larger nationwide charging network.
The company needs to sell more EVs. Sales last year totaled around 4,400 compared to production capacity of more than 7,000. Even Rivian is doing better than that.
Only nine analysts cover the stock, with five having a Buy or Strong Buy rating and three more rating the shares at Hold. At a price of around $11.00 a share, the upside potential based on a median price target of $15.00 is 36.4%. Based on the high target of $18.00, the upside potential is 81.8%.
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