Shares of eBay Inc., one of the world’s largest online marketplaces, came under pressure amid stagnant active buyer numbers and declining user engagement. Despite its status as a pioneer in online auctions, the platform has failed to grow its customer base over the past two years, facing intensified competition from other players.

eBay shares are trading at $90.80, corresponding to a 12.7x EV/EBITDA valuation. At the same time, business profitability fell by 4.3 percentage points as costs grew faster than revenues.

The company’s market capitalization stands at $41.5 billion, but analysts note that weak user metrics and rising expenses make eBay’s outlook less stable. Investors are advised to approach the company’s stock with caution.