TLDR
- eBay (EBAY) stock closed up 1% at $122.90 on Wednesday and is up 41% this year.
- The company will cut about 1,000 jobs, roughly 9% of its workforce, its second round of cuts in 2026.
- StoneX rates the stock a Buy with a $136 price target.
- eBay closed its $1.4 billion Depop deal in late August.
- Third-quarter earnings arrive Oct. 28, and eBay has beaten estimates five quarters in a row.
eBay (EBAY) stock closed up 1% at $122.90 on Wednesday, even after news of another round of layoffs. The stock is up 41% this year and 29% over the past 12 months. The S&P 500 is up about 13% in 2026.
Reuters was first to report that eBay will cut about 9% of its workforce. The company confirmed the move, which affects about 1,000 employees.
The stock dropped in premarket trading on the news. By the time the U.S. market opened, it had recovered to roughly flat. It then finished the day higher.
An eBay spokesperson said the step was taken to “operate from a position of strength.” The company said it is aligning teams and resources with its top strategic priorities. It also plans to keep hiring in priority areas.
This is the second round of cuts this year. In February, eBay said it would cut about 800 jobs, or 6% of its staff at the time. The company also made cuts in early 2023 and early 2024.
Analyst Sees Momentum Building
StoneX Financial analyst Daniel Kurnos rates eBay a Buy with a $136 price target. That is about 11% above Wednesday’s close. He wrote that “eBay continues to press all the right buttons.”
Kurnos pointed to eBay Live, the interactive shopping feature in its app and website. He also cited the growth of the company’s resale business. In his view, that suggests eBay is taking market share.
The stock is up more than 12% since mid-September. Kurnos said that move shows how cautious Wall Street estimates had been. He also said it points to momentum heading into the holiday season.
Like other online retailers, eBay has dealt with higher gas prices and unrest in Europe. Kurnos still expects the company to hold up. He sees continued growth in the 60% of the business made up of non-focus categories.
The stock hit a new closing high on Oct. 15. That came days after Morgan Stanley analyst Nathan Feather named it a top stock pick.
Depop Deal and Earnings Ahead
In late August, eBay closed its purchase of Depop for $1.4 billion in cash. The London-based resale site is popular with Gen Z and Millennial shoppers. The deal is meant to help eBay reach younger buyers.
Depop also gives eBay a rival to Vinted, a Lithuanian company expanding in the U.S. In August, eBay said the deal cost $200 million more than first announced. That added cost could weigh on third-quarter earnings.
An eBay survey found that 70% of global consumers see secondhand shopping as important for household budgets. It also found that 47% buy secondhand goods at least once a month.
eBay reports third-quarter results on Oct. 28. Kurnos notes the company has topped consensus estimates for five straight quarters. He sees no reason it should not make it six.
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