eBay Hits New 52-Week High

Shares of eBay Inc. hit a new 52-week high of $37.79 on September 8th. The stock has gained 16.3% in one year. eBay currently holds a Zacks Rank #3 (Hold). In addition, it has a market cap of $40.5 billion and its shares have returned 1.6% in the last two months following its second-quarter fiscal 2017 results.

eBay, one of the largest online retailers in the world, is focusing on improving buyers’ experience, international expansion, opportunities in the mobile space, and a strong balance sheet. Recently, the company expanded its partnership with MallforAfrica to further strengthen its cross-border business. This deal will help eBay increase its presence in Africa and open new revenue opportunities.

The company is also making efforts to fuel growth in its Marketplaces business, and has re-platformed itself by building product catalogs on structured data, enhancing mobile platforms, and strengthening its brand. In August, eBay entered into a partnership with Facebook to offer daily deals on Facebook’s Mobile Marketplace. In July, eBay launched a new sales channel, in conjunction with Shopify, allowing Shopify sellers to synchronize inventory information, sell products ordered on eBay, and view eBay messages directly from Shopify accounts.

These deals will accelerate eBay’s growth.

For additional information on eBay, visit their Web site.

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