What do eBay
I don't know what Smash Mouth is up to these days, but eBay is usually making headlines for all of the wrong reasons.
Its namesake marketplace has been meandering in recent years. It sold off two-thirds of Skype two years ago for billions less than what Microsoft
However, at least one analyst sees eBay differently than I do.
Pacific Crest's Steve Weinstein raised his rating on eBay -- from sector perform to outperform -- and kicked in an ambitious price target of $40.
After years of watching Craigslist and other free listing sites eat at its business and having CarMax
The problem is that eBay's stock has already been on a tear since the market bottomed out in March of 2009. The stock has more than tripled off those lows, despite lukewarm improvement in the fundamentals along the way.
It also remains to be seen if PayPal will have the same kind of impact on mobile payments as it has in traditional Web-based transactions. After all, it's not a coincidence that Google
I definitely wouldn't short eBay. PayPal is still a beast, and the baby steps that its marketplace segment is taking are in the right direction. eBay is also a cash-rich company, and that's before we consider its chunk of the Skype sale. However, I think the stock has already discounted a lot of the mildly positive developments that Pacific Crest feels will take the stock even higher.
Sorry, eBay. I'll pass.
Is eBay a buy or a sell here? Share your thoughts in the comment box below.
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Longtime Fool contributor Rick Munarriz is a satisfied eBay user with 178 positive feedbacks to show for it. He does not own shares in any of the companies in this story. He is also a member of the Rule Breakers analytical team, seeking out the next great growth stock early in its defiance. The Fool has a disclosure policy.