NEW YORK (TheStreet) -- eBay (EBAY) shares are declining 0.61% to $26.04 on Thursday morning after analysts at Cantor Fitzgerald downgraded the company to "hold" from "buy" and lowered their price target to $27 from $72.
Analysts cited slowing growth of the company after the spin-off of PayPal (PYPL).
In addition, security breach and search engine optimization changes at Google (GOOGL) is weighing down on the gross merchandise value growth, the firm stated.
On top of these pressures, analysts said eBay's turnaround "remains a work-in-progress as evidenced by July and August's same-store-sales data," as the growth is lagging behind the growth rate of general e-commerce, according to the firm's note.
Based in San Jose, CA, eBay operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the U.S. and internationally.EBAY data by YCharts