eBay Stock Dropped From Goldman Sachs 'Conviction Buy' List - TheStreet

NEW YORK (TheStreet) -- eBay (EBAY) - Get Report stock was taken off of Goldman Sachs' "Conviction Buy" list on Wednesday, however, analysts still maintained their "buy" rating on the online retailer. 

The firm also lifted its price target to $33 from $30. 

Analysts removed eBay from the "Conviction Buy" list based on valuation, however, their continual bullish outlook is due to ongoing capital returns and renewed investment in technology and marketing. 

"We believe these ongoing investments into technology should serve to improve the user experience and conversion rates, while potentially slowing the declines in organic traffic from search results," analysts stated.

In addition, Goldman Sachs praised eBay for having a more focused strategy following the PayPal (PYPL) spinoff. 

Despite these upsides, risks include competition, macro, traffic, and investment needs, according to the firm's note. 

Shares of eBay closed Tuesday's trading session up by 0.55% to $29. 

EBAY data by YCharts

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