Report
Valens Research

EBAY - Embedded Expectations Analysis - 2018 10 29

eBay Inc. (EBAY:USA) is currently trading well below corporate averages relative to UAFRS-based (Uniform) Earnings, with an 11.0x Uniform P/E, implying bearish expectations for the firm. However, management is confident in their recent initiatives and expanding product lines

Specifically, management is confident that their recent initiatives will materially impact their customers and their business. Additionally, they are confident that they will expand their product lines to include more high-velocity products in H2 2018, and in their improved guaranteed delivery accuracy. They are also confident in their ability to make changes to their website without disrupting the experience of existing customers
Underlying
EBay Inc.

eBay is a global commerce provider, which includes its Marketplace, StubHub and Classifieds platforms. The company's Marketplace platforms include its online marketplace located at www.ebay.com, its localized counterparts and the eBay suite of mobile apps. The company's StubHub platforms include its online ticket platform located at www.stubhub.com, its localized counterparts and the StubHub mobile apps. These platforms connect fans with their favorite sporting events, shows and artists and enable them to buy and sell tickets whenever and wherever they want. The company's Classifieds platforms include a collection of brands such as mobile.de, Kijiji, Gumtree, Marktplaats, eBay Kleinanzeigen and others.

Provider
Valens Research
Valens Research

In 2009, just as the dust was settling from the last major equity and credit market crises, we launched a boutique research firm with the intention of breaking Wall Street’s biases and broken incentives:

  • GAAP and IFRS have failed to provide rules for reliable financial statement reporting
  • Stock analyst recommendations are not grounded in disciplined financial analysis
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Many years later, our business model remains because little has changed on Wall Street.

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Valens Research

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