Investors and day traders on the prowl for stocks that may have been oversold after reporting earnings had quite a few to pick through this morning.

Several well-known companies saw their stocks fall today after releasing Q2 results and a few are making the case that there was an overreaction in the market.

Crocs (CROX): One company that surely caught investors' attention is Crocs with the footwear leaders' stock falling almost -15% after reporting earnings this morning.

There certainly appears to be an overaction in the market as Crocs impressively surpassed expectations on its top and bottom lines. This appears to be overlooked because of a slight alarm in regard to the growth of the company's HeyDude brand which it acquired last year.

HeyDude’s stellar growth has started to slow with sales of the popular footwear brand rising a modest 3% during the second quarter. Still, Crocs easily topped earnings estimates by 20% with Q2 EPS at $3.59 compared to expectations of $2.98 a share.

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On the top line, sales of $1.07 billion came in 3% above expectations. Even better, Crocs Q2 earnings rose 11% from the prior year quarter with sales up 11% as well. Furthermore, Crocs' outlook is appealing and could make its stock a bargain after the selloff with earnings expected to rise 6% this year and jump another 11% in fiscal 2024 at $12.82 per share.

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eBay (EBAY): Not as glaring as Crocs’ selloff, eBay’s stock still had a noticeable dip this morning with shares down -10% today follwing its Q2 report on Wednesday (After Market Hours).

Despite beating top and bottom expectations investors soured at eBay’s declining users with active buyers slightly down for the sixth consecutive quarter. Active buyers were at 132 million compared to 133 million in Q2 2022 and missed estimates by -1%.

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With that being said, eBay’s financial results argue the selloff is overdone as the company topped Q2 EPS estimates by 4% at $1.03 per share. Earnings were also up 4% YoY with Q2 sales of $2.54 billion coming in 1% above expectations and up 5% from a year ago.

It's noteworthy that despite the continued decline in active buyers, eBay has still surpassed earnings expectations for eight consecutive quarters and topped sales estimates in its last 20 quarterly reports dating back to October of 2018. Plus, eBay’s outlook is still attractive to longer-term investors with earnings expected to be up 2% in fiscal 2023 and rise another 12% in FY24 to $4.74 a share.