NEW YORK, Feb 18, 2026, 06:13 (EST) — Premarket
- eBay shares edged up roughly 0.4% after hours, with investors waiting on the company’s quarterly update.
- Shares dropped almost 3% in the previous session, underperforming the wider market.
- Analysts tweaked their targets ahead of the print, zeroing in on guidance and GMV.
eBay ticked 0.4% higher after hours Wednesday, with shares trading at about $80.28 ahead of its earnings release. (MarketBeat)
eBay shares dropped 2.95% to close at $79.95 on Tuesday, even as the S&P 500 posted a modest gain. Volume landed around 6.1 million shares—well above the 50-day average. The stock is still sitting about 21% below its 52-week high from August. (MarketWatch)
This setup is crucial—the next batch of numbers could shift sentiment fast. While investors have been counting on eBay’s consistent margins and buybacks for some time, shares haven’t managed to sustain their highs. The holiday quarter stands out as the real proving ground for marketplace demand.
Zacks’ latest preview highlights eBay’s Q4 revenue guidance at $2.83 billion to $2.89 billion and a non-GAAP EPS range of $1.31 to $1.36. (These non-GAAP results exclude certain items eBay doesn’t consider central to its business.) The same note points to management’s GMV expectations—roughly $20.5 billion to $20.9 billion—and notes profitability could come under pressure from both trade policy changes and planned reinvestment. (Nasdaq)
eBay will hold its quarterly earnings call at 2 p.m. PST this Wednesday. (eBay Investors)
UBS has trimmed its price target on eBay to $93, down from $95, but maintained a Neutral rating. Analyst Stephen Ju cited expectations that foreign exchange should deliver a solid tailwind in 1Q26. He also flagged possible gains from increased C2C (consumer-to-consumer) activity and eBay’s efforts around its “focus categories.” (TipRanks)
Traders rarely stop at the headline. They jump straight to GMV — gross merchandise volume, the sum of all goods changing hands on the platform. That metric gives a window into how much buyers and sellers are moving. Then there’s the “take rate,” eBay’s slice of each deal, ads and services included. That’s where the market often finds another pain point.
The risk is clear. Should cross-border friction ramp up beyond forecasts, or if costs tied to developing fresh tools and formats start outpacing incoming revenue, margins could shrink. That’s how guidance ends up looking weak, even as the top line keeps moving up.
Options traders are bracing for turbulence. Over the last 12 quarters, Market Chameleon data indicated the market priced in an average earnings swing of roughly 6.6% either way. (Market Chameleon)
The company’s quarterly results are on deck, along with its forecast for early 2026. Investors will tune in to Wednesday’s call for fresh details on GMV, margin performance, and whether there’s any shift in how quickly returns are coming back to shareholders.
