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EBAY

eBay

$38.79

0.84 (2.21%)

, FB

Facebook

$185.81

5.63 (3.12%)

15:38
10/11/19
10/11
15:38
10/11/19
15:38

eBay to leave Facebook's Libra digital currency, FT reports

eBay (EBAY) has become the second major player in a week to drop out of Facebook's (FB) planned cryptocurrency, following continued political pressure and just days before the project's backers are set to attend their first board meeting, the Financial Times reports. PayPal (PYPL) exited the project last week. Reference Link

EBAY

eBay

$38.79

0.84 (2.21%)

FB

Facebook

$185.81

5.63 (3.12%)

PYPL

PayPal

$102.53

2.01 (2.00%)

  • 23

    Oct

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    Oct

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    Oct

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    Oct

  • 30

    Oct

EBAY eBay
$38.79

0.84 (2.21%)

10/08/19
BARD
10/08/19
NO CHANGE
Target $46
BARD
Outperform
eBay tracker indicates Q3 volumes in-line with expectations, says Baird
Baird analyst Colin Sebastian said his eBay sales volume tracker for September indicates volumes are in-line with expectations; suggesting volume declines moderated sequentially during the quarter. The analyst expects internet sales tax collection will remain a near-term headwind but noted management conservatism has likely embedded the negative impact of these tax changes through the balance of the year. Sebastian maintained his Outperform rating and $46 price target on eBay shares.
09/27/19
09/27/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Box (BOX) downgraded to Underweight from Neutral at JPMorgan with analyst Mark Murphy saying while the stock has run higher, competition is intensifying in Box's target markets. 2. Atara Biotherapeutics (ATRA) downgraded to Sell from Neutral at Goldman Sachs with analyst Salveen Richter saying he sees a lack of near-term catalysts for the stock and questions surrounding the company's clinical programs. 3. Carnival (CCL) downgraded to Sell from Hold at Berenberg and to Neutral from Buy at UBS. 4. eBay (EBAY) and Booking Holdings (BKNG) downgraded to Market Perform from Outperform at Wells Fargo. 5. Canopy Growth (CGC) downgraded to Neutral from Buy at BofA/Merrill with analyst Christopher Carey saying while he still sees Canopy as a long-term leader in the cannabis industry, he thinks Canada industry growth is set to pause in the second half and potentially flatten, which he thinks could also be the case with Canopy. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/26/19
WELS
09/26/19
DOWNGRADE
Target $45
WELS
Market Perform
eBay downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo analyst Brian Fitzgerald downgraded eBay to Market Perform from Outperform with an unchanged price target of $45. The company's slowing gross merchandise volume suggests stagnant or decreasing market share, Fitzgerald tells investors in a research note. Further, the analyst believes eBay's segment margins look lower than the activist investors are assuming in a breakup, which suggests to him "lower potential upside from the strategic review." Fitzgerald's sum-of-the-parts analysis lead him to believe that eBay shares are fairly valued. With that said, the company's 7.2% free cash flow and share buyback potentials limit downside risk on the stock, contends Fitzgerald.
09/26/19
WELS
09/26/19
DOWNGRADE
WELS
Market Perform
eBay downgraded to Market Perform from Outperform at Wells Fargo
FB Facebook
$185.81

5.63 (3.12%)

10/09/19
DBAB
10/09/19
NO CHANGE
Target $230
DBAB
Buy
Facebook estimates and price target lowered at Deutsche Bank
Deutsche Bank analyst Lloyd Walmsley expects "solid" Q3 results from Facebook, but sees consensus estimates "migrating lower" following the print on early 2020 operating expenditure guidance. Once the reset occurs, the story looks good for 2020, with Instagram Checkout set to expand in participants and add features, ramping monetization in the Instagram Explore, and continued resurgence in core Facebook ad spend, Walmsley tells investors in a pre-earnings research note. He lowered his 2020 earnings per share estimate for Facebook to $9.45 from $9.81, and price target for $230 from $235, while keeping a Buy rating on the shares.
10/07/19
DBAB
10/07/19
UPGRADE
Target $91
DBAB
Buy
Deutsche upgrades Match Group to Buy on 'untarnished' fundamentals
Deutsche Bank analyst Kunal Madhukar upgraded Match Group (MTCH) to Buy from Hold with a price target of $91, down from $93. Despite a "strong" quarter and guidance raise, Match shares have been sinking since the company reported Q2 results, Madhukar tells investors in a research note. The analyst, while admitting there is potential for near-term trading dislocation and the specter of increased supply once IAC (IAC) decides to spin off Match, believes the stock has overacted to the downside from the launch of Facebook (FB) Dating and the Federal Trade Commission lawsuit against Match.com. Match Group's business fundamentals "remain untarnished," and if anything, are stronger after Tinder began offering consumers more payment choice on Android, Madhukar contends. Nomura Instinet this morning also upgraded Match Group. The stock in premarket trading is up 4%, or $3.17, to $77.60.
09/30/19
JEFF
09/30/19
NO CHANGE
JEFF
Jefferies incrementally positive on Trade Desk, Snap after Ad Week
Coming out of the Ad Week conference, Jefferies analyst Brent Thill continues to favor Facebook (FB) and Alphabet (GOOGL) in digital advertising, but the analyst is also incrementally positive on Trade Desk (TTD) and Snap (SNAP). Trade Desk is a direct beneficiary of the shift to emerging ad formats like connected TV and podcasts, which are "highly engaging and still relatively untapped," Thill tells investors in a research note. And while Instagram Stories remains the best format to reach younger users, Snap and Tik Tok are gaining traction and were among the most widely attended sessions, adds the analyst. In addition, Thill was surprised that Amazon.com (AMZN) did not have much presence at the conference.
10/10/19
10/10/19
UPGRADE
Target $89

Outperform
Match Group upgraded to Outperform at Oppenheimer
As previously reported, Oppenheimer analyst Jason Helfstein upgraded Match Group (MTCH) to Outperform from Perform, with a price target of $89. The analyst notes that the stock is down 27% from its highs on an overall correction in momentum names, confusion surrounding a likely debt transfer as part ofthe spinoff from IAC (IAC) and concerns over the FTC lawsuit. Helfstein is now less concerned about competition from Facebook (FB) Dating, and highlights that 3P download data shows an acceleration in Tinder and localized offerings. Lastly, his survey work indicates that only 44% of U.S. singles are currently using an online dating product, suggesting material growth in overall usage.
PYPL PayPal
$102.53

2.01 (2.00%)

09/24/19
UBSW
09/24/19
NO CHANGE
Target $120
UBSW
Neutral
PayPal leads among P2P providers, app share remains stable, says UBS
UBS analyst Eric Wasserstrom is keeping his Neutral rating and $120 price target on PayPal as part of his broader research note into U.S. Payment Networks. The analyst states that his most recent UBS Evidence Lab Mobile Banking App Download data suggests that mobile payment apps continue to gain market share relative to the traditional banking apps, and within that category, remittance apps continue to lose share vs. P2P apps like Venmo. Wasserstrom adds that PayPal - while challenged by newer entrants like Square Cash - is still maintaining its leading position in P2P. The analyst maintains however that Venmo's contribution to PayPal's revenue and earnings is already reflected in the stock's premium multiple relative to its historical levels.
10/10/19
NOMU
10/10/19
NO CHANGE
Target $139
NOMU
Buy
PayPal likely to sign more Chinese partnerships, says Nomura Instinet
On the heels of PayPal's recent GoPay acquisition, more partnerships with Chinese mobile payments players may be in the works, Nomura Instinet analyst Bill Carcache tells investors in a research note. The analyst believes the GoPay deal has raised the possibility of more "mutually beneficial partnerships" between PayPal and key players inside China's payments ecosystem. He keeps a Buy rating on the shares with a $139 price target.
10/09/19
BTIG
10/09/19
NO CHANGE
Target $130
BTIG
Buy
BTIG lowers Q3 EPS view for PayPal after projected investment losses
BTIG analyst Mark Palmer lowers his Q3 EPS view on Paypal to 54c from 69c after the company disclosed an expected 15c impact in the quarter from unrealized losses in its strategic investment portfolio. The analyst is keeping his Buy rating and $130 price target on the stock however, citing the company's "differentiated assets" and "trusted brand" sustaining its leading position in digital payments.
10/01/19
ADAM
10/01/19
NO CHANGE
Target $118
ADAM
Buy
PayPal payment processor deal beats card networks to China, says Canaccord
Canaccord analyst Joseph Vafi said Paypal's (PYPL) disclosure of its controlling stake in Chinese payment player GoPay has material strategic implications longer term. The analyst notes the deal allowed PayPal to beat both Visa (V) and Mastercard (MA) into the Chinese market and could be a conduit to drive meaningful cross-border payments volume allowing it to continue to sustain mid 20% payment volume for the next several years. Vafi reiterated his Buy rating and $118 price target on PayPal shares.

TODAY'S FREE FLY STORIES

AYI

Acuity Brands

$124.81

2.81 (2.30%)

05:47
10/16/19
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05:47
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NOW

ServiceNow

$274.60

5.45 (2.02%)

05:45
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ADBE

Adobe

$279.40

1.61 (0.58%)

05:44
10/16/19
10/16
05:44
10/16/19
05:44
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Adobe rating change  »

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FMC

FMC Corporation

$83.06

0.6 (0.73%)

05:32
10/16/19
10/16
05:32
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05:32
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SUBCY

Subsea 7

$0.00

(0.00%)

05:32
10/16/19
10/16
05:32
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05:32
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Subsea 7 rating change  »

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  • 07

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RBS

RBS

$5.82

0.38 (6.99%)

05:28
10/16/19
10/16
05:28
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05:28
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INOV

Inovalon

$15.04

0.2 (1.35%)

05:27
10/16/19
10/16
05:27
10/16/19
05:27
Initiation
Inovalon initiated  »

Inovalon initiated with a…

03/08/13
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UTX

United Technologies

$136.17

0.26 (0.19%)

05:26
10/16/19
10/16
05:26
10/16/19
05:26
Hot Stocks
Collins Aerospace, Lufthansa sign A380 main landing gear MRO agreement »

Collins Aerospace…

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  • 22

    Oct

HOLX

Hologic

$49.44

0.94 (1.94%)

05:25
10/16/19
10/16
05:25
10/16/19
05:25
Recommendations
Hologic analyst commentary  »

Hologic shares can keep…

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  • 06

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GLPG

Galapagos

$162.62

6.33 (4.05%)

05:24
10/16/19
10/16
05:24
10/16/19
05:24
Hot Stocks
Galapagos enters drug discovery research collaboration with HitGen »

HitGen announced that it…

03/08/13
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03/06/13
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03/06/13
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  • 25

    Oct

EPAY

Bottomline Technologies

$40.79

0.34 (0.84%)

05:21
10/16/19
10/16
05:21
10/16/19
05:21
Hot Stocks
Bottomline Technologies, Currencycloud partnership selected by Hargenant Group »

Bottomline Technologies…

03/08/13
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03/08/13
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03/06/13
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03/06/13
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  • 13

    Nov

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    Dec

CVLT

Commvault

$45.22

-0.24 (-0.53%)

05:20
10/16/19
10/16
05:20
10/16/19
05:20
Recommendations
Commvault analyst commentary  »

Commvault SaaS offering…

03/08/13
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  • 29

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AMZN

Amazon.com

$1,768.70

31.65 (1.82%)

05:19
10/16/19
10/16
05:19
10/16/19
05:19
Hot Stocks
AWS selected as preferred cloud provider by Old Mutual Limited »

Amazon Web Services, or…

03/08/13
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  • 24

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WATT

Energous

$3.29

0.09 (2.81%)

05:16
10/16/19
10/16
05:16
10/16/19
05:16
Hot Stocks
Energous enters partnership with ZPower »

Energous announced a…

03/08/13
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TECD

Tech Data

$111.41

1.86 (1.70%)

, APO

Apollo Global

$39.39

0.63 (1.63%)

05:15
10/16/19
10/16
05:15
10/16/19
05:15
Periodicals
Apollo offered to acquire Tech Data for $130 per share in cash, Reuters reports »

Apollo Global Management…

TECD

Tech Data

$111.41

1.86 (1.70%)

APO

Apollo Global

$39.39

0.63 (1.63%)

03/08/13
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03/08/13
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03/06/13
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  • 31

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MOSC

Mosaic Acquisition

$10.29

0.005 (0.05%)

05:09
10/16/19
10/16
05:09
10/16/19
05:09
Initiation
Mosaic Acquisition initiated  »

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ASMB

Assembly Biosciences

$9.30

0.3 (3.33%)

05:06
10/16/19
10/16
05:06
10/16/19
05:06
Initiation
Assembly Biosciences initiated  »

Mizuho starts Assembly…

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  • 29

    Oct

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    Oct

AVAV

AeroVironment

$57.14

0.02 (0.04%)

05:00
10/16/19
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PSTG

Pure Storage

$17.65

0.2 (1.15%)

04:57
10/16/19
10/16
04:57
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  • 12

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BOALY

Boral

$0.00

(0.00%)

04:56
10/16/19
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04:56
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04:56
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04:55
10/16/19
10/16
04:55
10/16/19
04:55
Conference/Events
FBN Securities cannabis analysts to hold a breakfast meeting »

Analysts host Chairman…

MREO

Mereo BioPharma

$3.58

0.08 (2.29%)

04:55
10/16/19
10/16
04:55
10/16/19
04:55
Conference/Events
Mereo BioPharma management to meet with SVB Leerink »

Meetings to be held in…

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03/06/13
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  • 16

    Oct

CHWY

Chewy

$26.80

1.03 (4.00%)

04:55
10/16/19
10/16
04:55
10/16/19
04:55
Conference/Events
Chewy management to meet with JPMorgan »

Meetings to be held in…

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  • 16

    Oct

04:55
10/16/19
10/16
04:55
10/16/19
04:55
Conference/Events
BTIG to hold a forum »

Energy & Shipping…

04:55
10/16/19
10/16
04:55
10/16/19
04:55
Conference/Events
Wedbush technology analyst to hold an analyst/industry webcast »

Technology Analyst…

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