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SAN JOSE, Calif. - eBay Inc. (NASDAQ:EBAY), a global commerce leader with a market capitalization of $31.8 billion and impressive 32.8% stock return over the past year, announced today that Chief Financial Officer Steve Priest will be departing the company. According to InvestingPro analysis, the company is currently trading slightly below its Fair Value, suggesting potential upside opportunity. Peggy Alford will assume the role of CFO effective May 12, following Priest’s last day in the position on May 11. Priest will continue to serve in an advisory capacity until July 31 to ensure a smooth transition.
CEO Jamie Iannone expressed gratitude for Priest’s leadership, particularly during the transformative phase amid the pandemic, crediting him with contributing to the company’s current resilience and strength. Under their leadership, eBay has maintained impressive gross profit margins of 72% and generated nearly $2 billion in net income over the last twelve months. Priest remarked on the privilege of working with eBay’s team and believes it is the right time for his departure with the company well-positioned for success.
Alford will begin her tenure at eBay in an advisory role starting May 5, before officially taking over as CFO. She brings over two decades of experience in finance, operations, and leadership within the technology sector. Alford expressed excitement about her return to eBay, looking forward to shaping the future and enhancing customer experiences with technology.
eBay is also reorganizing its leadership structure to foster faster innovation and deeper cross-functional collaboration. This includes merging product and market teams for increased agility and customer focus, as well as consolidating engineering into a single organization to drive speed and operational scale. Jordan Sweetnam will lead as Chief Commercial Officer of the new Global Markets and Product organization, while Mazen Rawashdeh will serve as Chief Technology Officer overseeing the unified engineering team.
These changes come as eBay positions itself for sustained growth and leverages new technologies, including AI, to deliver value to customers. As part of the reshuffle, Chief Product Officer Eddie Garcia will be leaving the company. InvestingPro data reveals the company’s strong financial health, with management actively buying back shares and maintaining a moderate debt level. For deeper insights into eBay’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. Iannone acknowledged Garcia’s contributions to eBay’s product strategy and customer experience, which have set a strong foundation for future success.
The leadership updates align with eBay’s strategy to adapt to a digital and AI-powered landscape, with the aim of driving long-term growth and enhancing buyer and seller impact. This announcement is based on a press release statement from eBay Inc.
In other recent news, eBay has been the focus of several analyst updates and financial assessments. UBS analyst Stephen Ju raised the price target for eBay to $73 while maintaining a Neutral rating, reflecting a slight increase despite macroeconomic challenges and potential tariff impacts on its Gross Merchandise Volume (GMV). Susquehanna also increased its price target for eBay to $65 following a fourth-quarter earnings report that exceeded expectations, although the outlook for the first quarter remains cautious due to ongoing economic pressures. Stifel analysts maintained a Hold rating with a $63 target, highlighting eBay’s strategic use of Artificial Intelligence to enhance consumer tools and processes. Meanwhile, Evercore ISI adjusted its price target to $63, noting eBay’s positive fourth-quarter results and a modest outlook for the first quarter, despite headwinds such as tariffs and currency fluctuations. Benchmark analysts emphasized eBay’s resilience, noting a positive trend in active buyers and potential growth from customer-to-customer initiatives. These developments come as eBay prepares to announce its first-quarter 2025 financial results, with investors closely watching how the company navigates economic challenges and tariff impacts.
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