TLDR
- eBay stock fell 1.4% after GameStop CEO Ryan Cohen appeared on Bloomberg TV to push the unsolicited acquisition
- Cohen said GameStop would take its case directly to eBay shareholders, stating “we’re coming for eBay one way or another”
- He claimed combined company debt would be investment grade and that GameStop holders would benefit from cost savings
- Wedbush reaffirmed its “Outperform” rating on eBay with a $135 price target, implying ~19.7% upside
- eBay’s consensus rating remains “Hold” with a consensus price target of $110.52 across 33 analysts
eBay (EBAY) dropped 1.4% to a session low Wednesday after GameStop CEO Ryan Cohen turned up the heat on his pursuit of the e-commerce platform in a live Bloomberg TV interview.
Cohen didn’t mince words. He said eBay executives are “entrenched and hiding behind advisors” and made clear he has no intention to sweeten his offer on his own terms, stating he would not “negotiate against myself.”
His most pointed line: “We’re coming for eBay one way or another.” Cohen indicated GameStop plans to bring its proposal directly to eBay shareholders, bypassing management entirely.
EBAY opened at $112.76 on Thursday. The stock has a 52-week range of $75.78 to $119.31 and carries a market cap of $50.07 billion.
Cohen argued the deal makes financial sense. He said debt from a combined eBay-GameStop entity would carry investment-grade status and that GameStop holders stand to benefit from meaningful cost savings.
He also noted that multiple investors have already expressed interest in the potential transaction, suggesting he may have some early backing for the move.
eBay’s management, for its part, has not publicly embraced the approach. The situation has the look of a classic hostile takeover attempt, with Cohen applying public pressure after the boardroom door appears closed.
Analyst Sentiment Stays Constructive on eBay
Despite the noise around the takeover bid, Wall Street’s view on eBay remains broadly positive. Wedbush reaffirmed its “Outperform” rating Thursday and kept its $135 price target in place, pointing to roughly 19.7% upside from the prior close.
Citigroup also reiterated an “Outperform” rating this week. Piper Sandler has an “Overweight” rating with a $115 target. Daiwa lifted its target from $90 to $114 back in May.
The consensus across 33 analysts sits at “Hold” with a price target of $110.52. Fourteen analysts have a Buy, eighteen a Hold, and one a Sell.
eBay’s Fundamentals Remain Solid
eBay’s most recent quarter came in strong. The company reported EPS of $1.66, beating the $1.58 consensus estimate by $0.08. Revenue hit $3.09 billion against expectations of $3.04 billion.
Revenue was up 19.5% year over year. In the same quarter last year, eBay posted $1.38 EPS.
For Q2 2026, eBay guided EPS in the range of $1.09 to $1.14. Full-year analyst consensus sits at $4.87 EPS.
On the institutional side, 87.48% of eBay stock is held by institutional investors. Insider activity has leaned toward selling in recent months, with insiders offloading 76,012 units worth roughly $8.7 million over the past three months, though those sales were executed under pre-arranged Rule 10b5-1 plans.
eBay’s 50-day moving average stands at $111.42, with its 200-day at $99.08.
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