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eBay Stock Slumps Today as Piper Jaffray Downgrades

NEW YORK (TheStreet) — Shares of eBay are down 2.39% to $57.03 in pre-market trading today as Piper Jaffray downgraded the company to "underweight" from "neutral" and lowered its price target to $49 from $55. "Last September we downgraded shares of EBAY to 'neutral' based on a belief that [Apple's ] Apple Pay will become an increasing threat to PayPal. Today, we are downgrading shares to …

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