EBAY: eBay Climbing on New Growth Projections - TheStreet

EBAY: eBay Climbing on New Growth Projections

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Shares of online auction giant

eBay

(EBAY) - Get Report

were rallying today, after it announced a target goal of $3 billion of revenues in 2005.

The forecast, the company said, is based on the size of its various markets and on the continued strength of its business model. eBay brings together buyers and sellers of collectibles, practical items, computers, used autos and parts.

eBay said that its 2005 objective implies revenue growth rates approaching 50 percent annually over the five-year target period.

In recent action, eBay was up $2.13 or 3.2%, to $67.81.