eBay Inc. (NASDAQ:EBAY) is set to release Q4 and annual results on February 23 at 2.00 PM PST. The announcement comes in the wake of downward pressure on technology stocks since the beginning of the year.
Technology stocks have been under downward pressure from the market, ending a rally that began and gained traction during the outbreak of COVID-19. The downward pressure has also been a result of the developments in the Ukraine standoff and due to the high rates of inflation in the US.
While share prices have been under pressure, EBAY releases results at a time when the corporate earnings of many companies have been beating expectations. Investors will therefore be waiting to see whether EBAY will maintain the corporate earnings momentum started by other firms in the market.
EBAY as a retailer and technology company, is expected to report higher earnings due to inflation-related price adjustments and due to growth in the e-commerce segment. In Q3 the company reported 11% growth in revenues to $2.5 billion.
EBAY continues with a downward trend in price
Source – TradingView
EBAY traded at $55.34 one day to the release of annual results. The share price is below all the moving averages except MA 200, which stood at $47.28. Both MA 10 and MA 20 cross below MA 50, affirming a short-term downward trend on the stock.
Trend analysis projects that the company’s share price will continue downwards as it has been keeping the bearish trend since October 2021. Technical analysis indicates that the share price is going through a market correction after the hubris of the COVID period.
Summary
EBAY results are expected at 2.00 PM PST on February 23. Investors expect EBAY to keep up with the corporate earnings trend report by retail and technology companies.
The share price declined to $55.34 prior to the earnings. With the share price undergoing a correction, it is appropriate to wait for the results and/or stock settles at a key support before considering a buy.
The post eBay to announce results on February 23. What should you expect? appeared first on Invezz.
