TLDR
- eBay (EBAY) stock closed up 1% at $122.90 on Wednesday and is up 41% in 2026.
- The company plans to cut about 1,000 jobs, or 9% of its staff, its second round this year.
- StoneX Financial rates the stock a Buy with a $136 price target.
- eBay closed its $1.4 billion Depop purchase in late August.
- Third-quarter earnings are due Oct. 28, and eBay has beaten estimates five quarters in a row.
eBay (EBAY) stock closed up 1% at $122.90 on Wednesday. The move came on the same day the company confirmed another round of layoffs.
About 1,000 employees will lose their jobs, roughly 9% of the workforce. Reuters was first to report the news.
The stock dropped before the opening bell. It had recovered to about flat by the time U.S. markets opened, then finished the day higher.
A spokesperson said the cuts line up teams and resources with top strategic priorities. The company still plans to hire in priority areas.
This is the second round of cuts in 2026. In February, eBay said it would cut about 800 jobs, or 6% of its staff at the time.
The company also trimmed staff in early 2023 and early 2024. So this is a familiar playbook for eBay.
Analysts Stay Upbeat
The stock is up 41% this year and 29% over the past 12 months. The S&P 500 is up about 13% in 2026.
StoneX Financial analyst Daniel Kurnos rates eBay a Buy with a $136 price target. That sits about 11% above Wednesdayās close.
Kurnos says the stock is up more than 12% since mid-September. He thinks that shows how cautious Wall Street estimates had been.
He pointed to eBay Live and the growth of the resale business. In his view, eBay is taking market share.
Higher gas prices and unrest in Europe have hurt online retailers. Kurnos still expects growth in the 60% of the business tied to non-focus categories.
eBay hit a new closing high on Oct. 15. That came days after Morgan Stanley analyst Nathan Feather named it a top pick.
Depop and Earnings Ahead
eBay closed its $1.4 billion cash purchase of Depop in late August. The deal gives it a rival to Vinted, which is expanding in the U.S.
In August, eBay said the deal cost $200 million more than first announced. That extra cost could weigh on third-quarter earnings.
An eBay survey found 70% of global consumers call secondhand shopping important for household budgets. About 47% buy secondhand goods at least once a month.
Kurnos notes eBay has beaten consensus estimates for five straight quarters. He sees no reason it should not make it six.
eBay reports third-quarter results on Oct. 28. That report is the next test after the stockās 12% climb since mid-September.
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