On Nov 01, major Wall Street analysts update their ratings for $Etsy Inc (ETSY.US)$, with price targets ranging from $44 to $65.
Morgan Stanley analyst Nathan Feather maintains with a sell rating, and adjusts the target price from $50 to $47.
Citi analyst Ygal Arounian maintains with a hold rating, and adjusts the target price from $65 to $54.
Barclays analyst Trevor Young maintains with a hold rating, and maintains the target price at $55.
Wells Fargo analyst Ken Gawrelski maintains with a sell rating, and adjusts the target price from $47 to $44.
Evercore analyst Jian Li maintains with a buy rating, and adjusts the target price from $80 to $65.
Furthermore, according to the comprehensive report, the opinions of $Etsy Inc (ETSY.US)$'s main analysts recently are as follows:
The company experienced a gross merchandise sales shortfall, however, it offset this with higher revenue and EBITDA as a result of improved take rates, according to an analyst. The efforts to enhance assortment, search, and the overall consumer experience are in progress, although it is anticipated that headwinds in merchandise sales will continue until there is a stabilization in discretionary demand.
Etsy's recent performance has been a blend of outcomes, with gross merchandise sales growth not meeting expectations, yet this was somewhat counterbalanced by improved take rates and margins. The company continues to face a difficult macro environment for consumer discretionary goods, further compounded by its lack of participation in significant discounting events that are appealing to consumers.
Etsy's Q3 Gross Merchandise Sales were below expectations; however, the outlook for Q4 was more favorable than anticipated. Initiatives in search and app enhancements are viewed as initial measures in a strategic realignment, yet further efforts are anticipated to be necessary to achieve renewed growth.
The company reported robust revenue and adjusted EBITDA figures, despite a somewhat weaker performance in Gross Merchandise Sales. The management cited several challenges faced during the quarter, including Hurricane Helene, significant sports events, elections in the UK and France, and the distraction caused by the U.S. election.
Here are the latest investment ratings and price targets for $Etsy Inc (ETSY.US)$ from 14 analysts:
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
