On August 7, eBay rose 3.11% in regular trading, trading at approximately $114.11 per share, as multiple investment banks upgraded their ratings and price targets following the company's strong Q2 earnings beat.

Argus upgraded eBay from Hold to Buy with a $133 price target, while Barclays raised its target to $123 and Baird adjusted its target to $126. The upgrades came after eBay reported Q2 adjusted EPS of $1.60, beating the consensus estimate of $1.51, and revenue of $3.13 billion versus the $3.02 billion expected. Gross merchandise volume reached $22.4 billion, exceeding the $21.6 billion analyst consensus. The company also guided Q3 revenue of $3.07-3.12 billion, well above the $2.97 billion market expectation, citing momentum in certified luxury goods, collectibles, and refurbished items, as well as contributions from its recently completed acquisition of secondhand fashion platform Depop.

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