EBAY - eBay Inc.
| Previous close | 42.47 |
| Open | 42.25 |
| Bid | 43.30 x 1300 |
| Ask | 43.69 x 1100 |
| Day's range | 42.25 - 43.49 |
| 52-week range | 26.02 - 43.50 |
| Volume | 9,879,658 |
| Avg. volume | 14,148,198 |
| Market cap | 30.531B |
| Beta (5Y monthly) | 1.28 |
| PE ratio (TTM) | 7.59 |
| EPS (TTM) | N/A |
| Earnings date | N/A |
| Forward dividend & yield | 0.64 (1.47%) |
| Ex-dividend date | 29 May 2020 |
| 1y target est | N/A |
- Bloomberg
Naspers and Axel Springer in Bid for eBay Classifieds Unit
(Bloomberg) -- South Africa’s Naspers Ltd. and an investor group backed by German publisher Axel Springer SE are among suitors that submitted bids for EBay Inc.’s classified-advertising business, according to people familiar with the matter.Axel Springer teamed up with KKR & Co. for its offer, according to the people, who asked not to be identified because the information is private. Online classifieds company Adevinta ASA also made a bid for the unit by this week’s deadline, the people said. A consortium of Blackstone Group Inc., Permira and Hellman & Friedman has also been pursuing the business, the people said.The unit could fetch $8 billion to $10 billion, according to one of the people. EBay could decide as soon as next week which suitors advance to the next round, the people said.EBay shares rose 2.3% in New York Friday, valuing the company at about $30.5 billion.A potential sale of EBay’s classifieds unit could rank among the largest deals in Europe involving private equity firms this year. EBay is seeking a sale of the business at a time when market turmoil has hampered financing for leveraged buyouts, forcing companies to put a number of bidding processes on hold. Walmart Inc. paused the sale of a majority stake in its U.K. grocery chain Asda to focus management’s attention on running the business amid unprecedented spikes in demand driven by the coronavirus.Representatives for EBay, Adevinta, Axel Springer, Blackstone, KKR, Naspers and Permira declined to comment. A spokesperson for Hellman & Friedman didn’t immediately respond to a request for comment.EBay said in February it was in talks with multiple parties about a sale of the business and expected to update investors by the end of the first half. While the San Jose, California-based company reported better-than-expected sales in the first quarter, the classifieds unit dragged on results as the Covid-19 pandemic forced the closure of car dealerships.EBay’s classified business has attracted interest from several strategic and private equity firms, Dealreporter and The Wall Street Journal have previously reported, citing unidentified people. Permira partially owns Polish online auction site Allegro. Hellman & Friedman is a backer of digital car marketplace Autoscout24 GmbH.E-commerce group Naspers, Africa’s largest company by market value, is seeking to boost its portfolios in classifieds, food delivery and digital-payments businesses as well as education, Chief Executive Officer Bob Van Dijk said in an interview this month. The company acquires online companies around the world through Amsterdam-listed Prosus NV, which the company spun off in September last year.German publisher Axel Springer has ramped up its hunt for deals to accelerate a shift into digital media since agreeing to go private with the help of KKR last year.Norway’s Adevinta was spun off of Scandinavian media conglomerate Schibsted ASA last year with the goal of expanding in the global online classified market.(Updates with details on Axel Springer and Adevinta in last two paragraphs)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Wall Street Backs Amazon, Etsy, Sees Short-Term Pain for Facebook, Google
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Disney Opening Shanghai Park
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Why quality and momentum matters for Ebay Inc (NSQ:EBAY)
Quality and momentum are highly prized among investors looking for reliable investment ideas. That's because good quality stocks tend to be resilient, cash-gen8230;
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Coronavirus: Shoppers flock to eBay as 50,000 new businesses sign up
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The Zacks Analyst Blog Highlights: Netflix, Wayfair, eBay, Akamai Technologies and Nintendo
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- Bloomberg
One-Man Hedge Fund Gains 56% With Virus-Resistant Tech Bets
(Bloomberg) -- Isolation is old hat for Eric Jackson. Since he launched his technology-focused hedge fund in 2017, he has been running it from a home office.The pandemic requires little adjustment in how he works. But it does force investors everywhere to think about which companies will do better in a scarred global economy. In Jackson’s case, the crisis has given his key holdings a huge boost: Zoom Video Communications Inc. and German food app company Delivery Hero SE have lifted his long-short fund at EMJ Capital Ltd. to a 56% gain this year.Jackson tries to hunt down data on technology usage that will lead him to winners. On Feb. 3, more than a month before the virus was declared a pandemic, Jackson noticed a sudden spike in downloads of the Zoom app in China. He already owned the stock because he liked its video conferencing technology and its CEO. The China numbers persuaded him to double down.“They are a verb. You don’t see too many verbs in the tech space. When one comes along like Google, you would have been wise to plunk down an investment and stick with it and I think the same is going to be the case for Zoom,” he said. Zoom shares have more than doubled this year.Hedge funds were hit hard by client withdrawals and investment losses during the March market rout, with global hedge fund assets dropping below $3 trillion for the first time in six years. In Canada, only five of 61 hedge funds tracked by Venator Capital Management Ltd. posted gains in the first quarter of the year.Read more: Hedge Fund Stock Exposure Is the Highest in at Least Three YearsListening in Silicon ValleyJackson runs one long-short fund, which has about $61 million in assets and is up 131% since inception in October 2017, as of Tuesday’s close. It typically owns about 11 to 20 stocks and has a similar number of short positions. Options are part of the strategy: the fund held out-of-the-money put options against some indices that rose sharply in value during the sell-off of late February and March as investors sought to buy protection against further declines.On the long side, “I’m trying to find companies that I think have a good shot at doubling or tripling over the next two to three years and I typically want to hold them for that long,” he said. As is common in funds that focus on tech growth stocks, there can be high day-to-day volatility. In normal times, he travels regularly to San Francisco and Silicon Valley to meet with contacts he’s built over decades after working in the tech industry himself. From 2000 to 2004, he worked at Toronto-based VoiceGenie Technologies Inc., a voice-recognition firm acquired by Alcatel for an undisclosed sum in 2006.“If I start to hear the same name come up over and over again, that’s usually a good sign that the company is just on the cusp of something great,” Jackson said. “So I’m getting behind those companies early, sticking with them, not just sort of selling out quickly.”Twilio Inc. was his biggest winner in 2018 after hearing about the company through friends and contacts. Shares of the San Francisco-based software maker rose 278% in 2018 and climbed another 10% last year as quarterly results kept beating expectations.He replaced Twilio in his fund with Delivery Hero and HelloFresh SE, a seller of meal kits. Both have been big contributors to his fund’s surge this year.“I was into them from last year. But when the pandemic kind of began to emerge and they canceled the NBA season, that was really the first time I realized that this was going to be a be a much bigger deal than I expected at the beginning of the year,” said Jackson, a Brooklyn Nets fan.Internet DinosaursJackson is also betting that EBay Inc. makes a comeback after buying shares last quarter.“It lost the war to Amazon, yet they have a bunch of interesting catalysts that I think are going to play out this year.”With a new CEO on board, former Walmart Inc. e-commerce executive Jamie Iannone, the company could see some renewed revenue growth, Jackson said. Iannone started as head of the company last month.EBay recently sold ticket-resale site StubHub for $4.05 billion and is in the midst of evaluating offers for its classified ads business. Jackson, who has been an activist investor in Yahoo and Viacom, hopes EBay will use its cash for acquisitions.“There’s a turnaround story there that people aren’t paying attention to because it’s this boring dinosaur of a company.” He sees EBay’s share price rising to $100 over the next six to 18 months. EBay’s stock closed at $40.32 on Tuesday.Health TechPutting his “citizen hat” on, Jackson is pessimistic that the reopening of economies will go smoothly as bankruptcies hit small businesses and energy companies. But the pandemic will lead to big changes in health care and technology, he predicts.“I think there’s an opportunity for other devices to keep track of people’s health and connect to the hospitals so you don’t have to travel in and your doctors can have this remote relationship with you,” he said.He owns shares of DexCom Inc., which develops devices to monitor blood sugar levels in diabetic patients. Jackson’s son was diagnosed with Type 1 diabetes a few years ago and that’s how he came across the company. “They keep making these devices smaller and lighter, less obtrusive and less expensive so I think they are an interesting company to watch.”He also owns Livongo Health Inc., a U.S.-focused remote health monitoring company. The shares have gained 75% this year, while DexCom is up 67%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Is eBay (EBAY) Outperforming Other Retail-Wholesale Stocks This Year?
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E-Commerce Stock Q1 Earnings Due This Week: IAC, CVNA & More
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- Simply Wall St.
eBay Inc. Just Recorded A 18% EPS Beat: Here's What Analysts Are Forecasting Next
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The Zacks Analyst Blog Highlights: Facebook, Microsoft, Tesla, Qualcomm and eBay
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eBay's (EBAY) Q1 Earnings And Revenues Surpass Estimates
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