eBay (EBAY +2.3%) rises after Wedbush upgrades shares to Outperform, and lifts its PT to $48, on...

eBay (EBAY +2.3%) rises after Wedbush upgrades shares to Outperform, and lifts its PT to $48, on bullishness regarding eBay's PayPal unit. The firm believes PayPal will continue growing at a 25-30% clip, and will account for over half of eBay's revenue by 2014. A new in-store payment system is seen as a key growth driver. (previously)

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  • Philip Cohen
    , contributor
    Comments (1537) | Send Message
    eBay’s share price has effectively not moved since the headless turkey Donahoe took control of the eBay farmyard, and it’s unlikely to make any significant progress while this inarticulate ex Bain fool is at the helm.


    eBay has never paid its shareholders a cash dividend; most of eBay’s cash is stuck in overseas low-tax tax havens and cannot be repatriated without eBay paying it’s share of U.S. tax on it. (What a shame all we middle class taxpayers can’t obtain the same benefit!) The only ones taking a cash dividend out of eBay are its senior executives, then, is it not primarily for the benefit of such people that such publicly listed companies are run?


    The eBay Marketplace is in fact going backwards. If it was not for eBay’s effectively mandating the use of PreyPal by eBay users, and the resulting increasing PreyPal contribution to eBay’s profits, eBay’s share price would be considerably lower than it presently is.


    Regardless, we can be assured that, other than for PreyPal’s mandated use on whatever there will eventually be left of the Donahoe-devastated eBay Marketplace, elsewhere, the banks/Visa/MasterCard, once they get their “online” payments act together, will very quickly bury the clunky PreyPal which, after all, operates in the main as literally a parasite on those same banks’ existing payments systems. And, PreyPal’s latest claim that they can be a threat to the banks/Visa/MasterCard payment systems at POS is simply ludicrous.


    The eBafia and PreyPal are actually feeding off each other and both appear to have little upside in the future for eBay’s users or shareholders. Get the facts at:




    Enron / eBay / PayPal / Donahoe: Dead Men Walking.
    21 Sep 2011, 02:10 AM Reply Like
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