EBay's Q3 Expected To Show Progress On Turnaround Efforts

Despite increasing competition, e-commerce is still the business to be in. EBay Inc (NASDAQ: EBAY), feeling some increased pressure from Facebook Inc (NASDAQ: FB)'s new marketplace and the increasing popularity of classified selling apps, is still up over 15 percent year to date.

With eBay's Q3 report coming up, Cantor Fitzgerald is expecting earnings to come in line with expectations but is also expecting some new initiatives from the company, which could provide some improved guidance moving forward.

Related Link: Look For Gradual Improvement In eBay Over The Next Few Quarters

Cantor analysts highlighting new structured data, machine learning, user experience and merchandising to help provide a boost for eBay moving forward, despite the company underperforming relative e-commerce growth currently.

Growth in visitations have also picked up on the site, up 9 percent year-over-year in july and august. Same-store sales on eBay have also expect nearly a 5 percent increase in Q3.

Cantor Fitzgerald maintains a Hold rating on eBay with a $27 price target.

At last check, eBay was down 1.43 percent at $31.43.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.