By Liz Moyer
Investing.com — Etsy Inc (NASDAQ:) stands to profit from traits displaying e-commerce gained floor via the vacation season, in keeping with a analysis be aware from Oppenheimer.
The analysts, who price the inventory an outperform, raised their value goal to $150 from $125, implying a 9% upside from the present degree.
The analysts stated website visits are up 7% within the fourth quarter from a yr earlier, an acceleration from the third quarter acquire of three% and the second quarter decline of 5%, citing their very own information and information from Similarweb. Distinctive visits accelerated, too, up 15% within the fourth quarter versus 7% within the third quarter, the analysts stated.
Shares of Etsy rose greater than 2% on Friday afternoon and are up 14.5% up to now this yr.
Oppenheimer famous that information confirmed e-commerce companies have been gaining share since July. Analytics from SpendingPulse confirmed share positive factors via the vacation season, the analysis be aware stated. Etsy is a web based market of artisans and impartial sellers.
The analysts stated they’re forecasting 2023 gross merchandise gross sales up 6%, which is in keeping with the Avenue consensus. Additionally it is modeling 2023 complete income up 8% from 2022, barely under consensus.
Catalysts embody vendor adoption of free transport, effectivity in advertising and marketing, the profitable execution of a unified advert platform and the announcement and execution of value will increase, the analysis be aware stated.
Etsy stories earnings on Feb. 23. Analysts predict earnings per share of 80 cents on income of $753 million.
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