Etsy (ETSY)

• Market cap: $6.39B
• 1 day: -0.58%
• 5 days: -2.32%
• 1 month: 11.70%
• 3 months: 5.38%
• 6 months: -2.39%
• Year to date: -29.93%
• 1 year: -32.04%
• 5 years: 28.94%
• 10 years: 89.37%
• Sector: Industrials
• Industry: Business Services

About: Etsy operates a top-10 e-commerce marketplace operator in the us and the UK, with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.2 billion in 2023 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2023, the firm connected more than 96 million buyers and 9 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), and Depop (clothing resale).

Employees: 2,420

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

46% more call options, than puts

Call options by funds: $792M | Put options by funds: $544M

0% more funds holding in top 10

Funds holding in top 10: 4 [Q2] → 4 (+0) [Q3]

0.98% less ownership

Funds ownership: 101.73% [Q2] → 100.75% (-0.98%) [Q3]

7% less capital invested

Capital invested by funds: $7.02B [Q2] → $6.52B (-$495M) [Q3]

11% less funds holding

Funds holding: 568 [Q2] → 506 (-62) [Q3]

21% less repeat investments, than reductions

Existing positions increased: 147 | Existing positions reduced: 187

42% less first-time investments, than exits

New positions opened: 86 | Existing positions closed: 148

Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $44 23% downside
• Avg. target: $56 1% downside
• High target: $70 23% upside

14 analyst ratings

• positive: 3 21%
• neutral: 9 64%
• negative: 2 14%

MoffettNathanson Michael Morton 75% 1-year accuracy 3 / 4 met price target	7% upside $61	Neutral Maintained	26 Nov 2024
Wells Fargo Ken Gawrelski 62% 1-year accuracy 28 / 45 met price target	23% downside $44	Underweight Maintained	1 Nov 2024
Deutsche Bank Lee Horowitz 80% 1-year accuracy 8 / 10 met price target	12% downside $50	Hold Maintained	1 Nov 2024
Citigroup Nicholas Jones 68% 1-year accuracy 54 / 80 met price target	5% downside $54	Neutral Maintained	31 Oct 2024
Truist Securities Youssef Squali 58% 1-year accuracy 46 / 80 met price target	23% upside $70	Buy Maintained	31 Oct 2024