Dallas, Texas 12/03/2013 (Financialstrend) – The S&P 500 index tracked eBay Inc (NASDAQ:EBAY) has apparently come out on top of its competition at least in the narrow context of discount sales during “Cyber Monday” which we all lived through yesterday. Amazon has found itself at the second spot in this race which was on between online retailers yesterday.
Research Firms Have A Field Day Analysing Sales Data
Research firms and trade journals which have made a vocation out of tracking the online sales figures and the relative shares of each of the key players in this online retailing segment have had a field day trying to slice and dice the sales figures recorded by companies like eBay Inc (NASDAQ:EBAY), Wal-Mart Stores, Inc. (NYSE:WMT), Dollar General Corp. (NYSE:DG), Target Corporation(NYSE:TGT) on their ecommerce portal.
Ebay Pips Amazon To The Top Spot
As per one of the key market watchers “ChallelAdvisor” report, the two biggest beneficiaries this year are eBay Inc (NASDAQ:EBAY) and Best Buy. Amazon too is part of the top 5 online retainers list this year. The top spot went to eBay Inc (NASDAQ:EBAY), since the firm has managed to increase its sales during the thanksgiving period by 38.7% in comparison to its previous year’s sales figures. Amazon has come in next with sales increasing this year to 34.7% as compared to its FY12 numbers for the same period.
Ratings Upgrade
On the back of such good build up in momentum in the first few weeks of holiday shopping, eBay Inc (NASDAQ:EBAY) earned an upgrade by rating agency SunTrust. The stock has been pushed up to a Buy from its earlier rating of Neutral. The price target has also been pushed up to $61 per share. Its analyst Robinson Humphrey‘s Rob Peck has opined that the relative weakness of the stock in the past month can be overcome by strong showing in the last month of the year.
