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Aandeel van de Week

eBay - EBAY
Key Investment Considerations

At our $63 fair value estimate, we find shares
undervalued. We believe eBay possesses more potential
sources of cash flow than most consumer names.
Bron: Morningstar 27/11/2013
Key Investment Considerations

EBay's ability to facilitate commerce online and offline
has been underappreciated. Recent worries about
marketplaces trends and PayPal margin pressures are
overdone.
Bron: Morningstar 27/11/2013
Key Investment Considerations

Our model is consistent with management's 2015 revenue
goal of $9.5 billion to $10.5 billion for PayPal, but below
the target of $10.5 billion to $11.5 billion for
Marketplaces. Mobile commerce and international
expansion offer upside to current marketplaces estimates.
Bron: Morningstar 27/11/2013
eBay – EBAY

Equity Stewardship
Examplary

Sector
Retail - Apparel & Specialty

Bron: Morningstar 27/11/2013
eBay – EBAY

Morningstar Rating
QQQQ

Moat
Wide

Fair Value
USD 63.00

Moat Trend
Positive
Bron: Morningstar 27/11/2013

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Aandeel van de week: eBay

  • 1. Aandeel van de Week eBay - EBAY
  • 2. Key Investment Considerations At our $63 fair value estimate, we find shares undervalued. We believe eBay possesses more potential sources of cash flow than most consumer names. Bron: Morningstar 27/11/2013
  • 3. Key Investment Considerations EBay's ability to facilitate commerce online and offline has been underappreciated. Recent worries about marketplaces trends and PayPal margin pressures are overdone. Bron: Morningstar 27/11/2013
  • 4. Key Investment Considerations Our model is consistent with management's 2015 revenue goal of $9.5 billion to $10.5 billion for PayPal, but below the target of $10.5 billion to $11.5 billion for Marketplaces. Mobile commerce and international expansion offer upside to current marketplaces estimates. Bron: Morningstar 27/11/2013
  • 5. eBay – EBAY Equity Stewardship Examplary Sector Retail - Apparel & Specialty Bron: Morningstar 27/11/2013
  • 6. eBay – EBAY Morningstar Rating QQQQ Moat Wide Fair Value USD 63.00 Moat Trend Positive Bron: Morningstar 27/11/2013