EBay's Stock Rally Hits a New High. Why It's Such a Big Winner This Year. -- Barrons.com

By Janet H. Cho

The auction site eBay is benefiting from shoppers who are on the hunt for secondhand values.

The stock was rising 6% on Thursday, a day after the consumer price index showed that inflation rose by a hotter than expected 3.7% in September, and days after Morgan Stanley named it a top stock pick.

It's on pace for a record high, its first since May, according to Dow Jones Market Data. Shares traded as high as $124.59, up 6.6% and a new all-time intraday high.

The stock is up 16.8% this month, 42.2% this year, and 35.9% over the past 12 months. The S&P 500, in comparison, is up 12.8% this year.

Morgan Stanley analyst Nathan Feather, who has an Overweight rating on eBay stock, on Monday raised his price target to $132, from $127, and made the stock the firm's "top pick." He wrote that the growth in eBay's gross merchandise volume, or GMV, has "surprised even the most bullish investors."

He also wrote that eBay's $27 billion live-selling market, which lets consumers shop through interactive livestreams, "appears to be the missing piece." The report sent eBay stock up 4% to $116.75 on Monday; it was the second best-performer in the S&P 500.

In its own survey released this month, eBay found that 70% of global consumers consider secondhand shopping important for managing their household budgets, while 47% buy secondhand goods at least once a month.

Of the more than 10,500 consumers and 1,700 eBay sellers surveyed across several markets, 76% of consumers had shopped for secondhand goods in the past year, and 89% plan to spend the same amount or more on secondhand goods next year. And 45% of U.S. eBay sellers said resale gives them supplemental income.

In its second-quarter earnings report in August, eBay beat analysts' earnings and revenue forecasts and raised its full-year guidance, citing "meaningful, broad-based momentum."

In late August, it closed its acquisition of Depop, a London-based consumer-to-consumer site popular with Gen Z and Millennials for its "pre-loved fashion," for $1.4 billion in cash, which analysts consider a strategic move to attract younger customers and expand its reach in the resale market. Its survey of users found that 53% of 18-to-29-year-olds expect to buy more secondhand products over the next 12 months, compared with 36% of consumers overall.

Write to Janet H. Cho at janet.cho@dowjones.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

October 15, 2026 14:19 ET (18:19 GMT)