EBay Shares Remain In Range For Trading
Lehman Brothers said eBay shares could remain in a trading range for the next few months as the online auction giant continues to emphasize core listings as a way to drive sales growth.
A planned fee hike for eBay (nasdaq: EBAY – news – people ) Store listings next week will raise the cost of listing 30-day fixed-price items, as well as eBay’s commission on the final sale price.
Chief executive officer Meg Whitman said during a conference call on July 19 a glut of fixed-price store offerings have “caused the buyer experience to suffer” and “diluted the magic of the eBay experience.”
Lehman Brothers analyst Doug Anmuth said he was still wary of the company’s fundamental strength in the near term.”While eBay’s 2006 has thus far been characterized by the shift to [store inventory format] listings,” the analyst said, “we are not certain that moving listings from SIF to core will serve as eBay’s panacea.”
EBay Seen Range-Bound Near Term – Forbes.com
Photo by Yahoo Finance.
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