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eBay, Carvana, Twilio: After-hours movers

eBay (EBAY) shares are declining in Wednesday's after-hours trading despite beating both revenue and earnings expectations for the third quarter. The sell-off is driven by disappointing guidance as the company's fourth quarter and fiscal year revenue forecasts fell short of Wall Street expectations. Meanwhile, Carvana (CVNA) is seeing its stock surge following impressive third quarter results. The online auto retailer topped analyst estimates on revenue and earnings, reporting a 32% year-over-year revenue increase to $3.66 billion. Twilio (TWLO) shares are also climbing after the company delivered strong third quarter performance. Investors responded positively to the communication platform's upbeat fourth quarter forecast and raised full-year revenue guidance. To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. This post was written by Angel Smith

EBay Falls After Projecting Lackluster Holiday Season Sales

(Bloomberg) -- EBay Inc. dropped in extended trading after projecting holiday season sales that fell short of analysts’ estimates, suggesting the e-commerce company continues to struggle against larger rivals.Most Read from BloombergNY Transit Agency Takes Next Step on Brooklyn-Queens Rail LinkIs Denver’s Big Bet on E-Bikes Paying Off?There Will Soon Be No Meatpackers Left in NYC’s Historic Meatpacking DistrictChicago Mayor Seeks Property Tax Hike, Breaking Campaign VowA South Korean City Plays

eBay’s (NASDAQ:EBAY) Q3 Sales Top Estimates But Stock Drops

Online marketplace eBay (NASDAQ:EBAY) beat Wall Street’s revenue expectations in Q3 CY2024, with sales up 3% year on year to $2.58 billion. On the other hand, next quarter’s revenue guidance of $2.56 billion was less impressive, coming in 3.4% below analysts’ estimates. Its non-GAAP profit of $1.19 per share was in line with analysts’ consensus estimates.

EBay: Q3 Earnings Snapshot

The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.18 per share. The e-commerce company posted revenue of $2.58 billion in the period, also surpassing Street forecasts. Seven analysts surveyed by Zacks expected $2.55 billion.

eBay price target raised to $71 from $65 at Morgan Stanley

Morgan Stanley analyst Nathan Feather raised the firm’s price target on eBay (EBAY) to $71 from $65 and keeps an Overweight rating on the shares. Debate has grown on the potential for further upside following a 46% run year-to-date, but the firm would be buyers of the FY25 bull case with low-single digit GMV growth, low-double digit EPS growth and multiple durability and upside, the analyst tells investors. However, the firm is “tactically more balanced into the print given a tough set-up,” the
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