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• This article examines whether eBay’s share price still offers value after a strong run, or whether most of the easy gains may already be behind it, by focusing squarely on what investors are paying for today.

• With the stock at US$105.63 and returns of 5.6% over 7 days, 17.6% over 30 days, 21.3% year to date and 60.8% over 1 year, plus 157.5% over 3 years and 85.0% over 5 years, many investors are asking how that track record lines up with the current valuation.

• Recent attention on eBay has centered on how established online platforms are being priced relative to growth expectations and competition in broader e…