eBay’s stocks were broadly higher during the course of Tuesday’s session as Hilliard Lyons begun coverage of a “long-term buy” rating on the stock.
The e-commerce site has a price objective of $35, according to reports.
Analysts at Hilliard Lyons are expecting the company’s near-term growth to post about 20% annually. However, it seemed that the company might face difficulties with its sluggish and undeveloped markets in the U.S. to enter.
After the e-commerce made decision to split from PayPal and the sale of GSI Commerce, the company’s focus started narrowing. According to Hilliard Lyons, these moves enable eBay to develop more its growth as management turns its focus on core initiatives like product development, search engine optimization (SEO) and other areas.
Further, the company is expecting these initiatives to successfully narrow the gap its rivals have boosted by means of product enhancement content.
Partnership with the Naval Academy Athletic Association
Shares of eBay Inc gained about 1.18% amid Tuesday’s session and settled at $31.77 at the close. The closing session ranges between $31.36 and $32.03.
Meanwhile, the leading ticket marketplace in the world, StubHub, has signed a multi-year agreement with the Naval Academy Athletic Association, which made it as an Exclusive Ticket Marketplace of Naval Academy Athletics.
The agreement is tied with Spectra Ticketing & Fan Engagement, which provides integrated ticketing, including marketing services.
Thus, the partnership with Navy comprises of ticketing integration, along with sponsorship rights intended for all on-campus football and men’s basketball events. It appears that the said partnership of StubHub is its first full integrated agreement with sponsorship from the Armed Forces program.
Moreover, the partnership also considers the latter as its major partner and sponsor in the collegiate space, which has been working with over 40 Division I universities.
Given StubHub’s planned agreement integration with industry-leader Spectra Ticketing & Fan Engagement, StubHub will be granted access by the ticket holders of the Navy season on the exclusive ticket marketplace of the Midshipmen.
As the service is a fully integrated ticketing platform, it allows both season- and single-game ticket holders to confidently resell the tickets on the leading ticket marketplace worldwide, at the same time providing buyers’ safety of shopping, with an instant ticket upon purchase through mobile delivery or print-at-home.
eBay Partnership with inkFrog on February 2015
The chart below illustrates EBAY reaction in the previous partnership made with the inkFrog, in which the stock price opened at 21.98 before the planned partnership on February 17 and continued on an upward trend, reaching 22.26 on the green at resistance 23.25 and support 21.50.
On the day of the partnership, stock price opened at 23.24 and nearly break out on the upside at resistance 23.25 and followed a bullish trend, reaching a peak level of 24.23 on February 22.
As eBay’s StubHub has planned partnership with the industry-leader Spectra Ticketing & Fan Engagement, it will give a huge boost on the company’s stock as well on their sales. Therefore, we concluded that stock prices could consolidate for the mean time and shares will rally after the partnership announced final ties.
Get market insights and updates and subscribe to our daily newsletter! FSM News provides accurate market knowledge and information.