EBay shares added $1.22, or 3.5 percent, to $36.21 during afternoon trading. In the past year, eBay has traded between $25.50 and $37.44.

In a note to clients Tuesday, analyst Imran Khan reiterated his "Overweight" rating for the stock. He estimated the company's worldwide new listings have risen 6.1 percent year-over-year since Aug. 22, and estimated these listings had declined 6.4 percent year-over-year through that date.

Khan added that eBay's U.S. listings are benefiting from a discount that began at the end of August, under which sellers paying for the company's gallery option receive a listing-fee discount.

"Overall, the improving listings growth rate gives us increased confidence in our fourth-quarter and 2008 estimates of year-over-year listings growth of 5 percent and 4.5 percent, respectively," he wrote.

Khan also predicted that positive effects of foreign exchange will help eBay's revenue-per-listing over two quarters.

In a note late Monday, Goldman Sachs analyst Anthony Noto reiterated his belief that eBay's listings growth will come in noticeably lower than marketplace gross merchandise volume and sales growth for various transition-related reasons.

"Listings data is only one factor that impacts gross merchandise volume and revenue, in addition to conversion rates, price and mix," he wrote.

Noto maintains a "Buy" rating and a $43 price target on eBay shares.