Etsy (ETSY)

• Market cap: $6.21B
• 1 day: 0.76%
• 5 days: 0.95%
• 1 month: -12.88%
• 3 months: 4.67%
• 6 months: -18.21%
• Year to date: 0.02%
• 1 year: -22.25%
• 5 years: 3.27%
• 10 years: 77.07%
• 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: $800M | Put options by funds: $547M

0% more funds holding in top 10

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

0.91% less ownership

Funds ownership: 102.29% [Q2] → 101.38% (-0.91%) [Q3]

7% less capital invested

Capital invested by funds: $7.06B [Q2] → $6.56B (-$493M) [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

39% less first-time investments, than exits

New positions opened: 86 | Existing positions closed: 140

Research analyst outlook

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

• Low target: $44 17% downside
• Avg. target: $56 6% upside
• High target: $70 32% upside

13 analyst ratings

• positive: 3 23%
• neutral: 8 62%
• negative: 2 15%

Morgan Stanley Lauren Schenk 90% 1-year accuracy 19 / 21 met price target	15% downside $45	Underweight Maintained	13 Jan 2025
Jefferies John Colantuoni 71% 1-year accuracy 12 / 17 met price target	4% upside $55	Hold Upgraded	13 Jan 2025
MoffettNathanson Michael Morton 75% 1-year accuracy 3 / 4 met price target	15% upside $61	Neutral Maintained	26 Nov 2024
Wells Fargo Ken Gawrelski 64% 1-year accuracy 32 / 50 met price target	17% downside $44	Underweight Maintained	1 Nov 2024
Deutsche Bank Lee Horowitz 80% 1-year accuracy 8 / 10 met price target	6% downside $50	Hold Maintained	1 Nov 2024