eBay Inc (NASDAQ:EBAY) 3Q 2017 earnings are set for release this evening after closing bell, and Wall Street is looking for non-GAAP earnings of 48 cents per share on $2.3 billion in revenue. In last year’s third quarter, the online retailer reported earnings of 45 cents per share on $2.2 billion in sales. eBay guided for non-GAAP earnings of 46 cents to 48 cents per share.

ebay 3q 2017 earnings
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Macquarie analyst Benjamin Schachter said in his earnings preview that he’s concerned about the company in the long term because of Amazon and even Walmart and other retailers that sell online, but for now, he likes the current management’s execution. One thing that bodes well for the company in the short term is the fact that the team has beaten the midpoint of their guidance in every quarter since the spinout of PayPal, he notes.

He explained that management’s guidance for the eBay 3Q 2017 earnings report implies that the second half of this year will inflect with revenue growth acceleration and adjusted earnings growth as margins expand meaningfully. The company’s third-quarter guidance implies a 7% increase in revenues, which Schachter says also implies that its sales growth will accelerate to 9% in the fourth quarter. They guided for a 5% increase in non-GAAP earnings for the third quarter, which he says implies an acceleration to 11% growth for the fourth quarter. Macquarie has a Neutral rating and $40 price target on eBay stock.

Stifel analyst Scott Devitt has a Hold rating and $36 price target on eBay stock, and he’s looking for in-line results from the eBay 3Q 2017 earnings release. He noted that in the second quarter, eBay’s gross merchandise volume grew 5% on a currency-adjusted basis, while the company’s active buyer growth held steady with a 4% increase year over year. Buyer retention remained steady as eBay gained new users as well.

Devitt expects to see a 5% increase in active buyers in the second half of this year on the back of eBay’s new brand marketing and personalized experience for users. He’s looking for a 5% increase in StubHub gross merchandise volume and sales as well and notes that the segment is up against a difficult year-over-year comparison.

On the earnings call, he’s looking for additional updates on structured data as the online marketplace firm said in the second quarter that its new structured data pages made up 22% of total SEO traffic, versus 16% in the first quarter. The new pages made up 9% of total traffic in the second quarter and 7% in the first quarter, and the company expects acceleration in this area to continue. He will also be listening for further updates on the company’s brand marketing campaign and active user growth momentum.

Ahead of the eBay 3Q 2017 earnings release, the company’s stock rose by as much as 1.12% to $37.91 during regular trading hours.