Etsy (ETSY) Consensus is Too Low - Needham & Company

Needham & Company analyst Anna Andreeva reiterated a Buy rating and $250.00 price target on Etsy (NASDAQ: ETSY) on the belief that 38M new buyers will contribute $1B+ in run-rate GMS/~$200M+ in sales over the next few years and is not being adequately captured by Street consensus.

The analyst stated "we think ~$30B/$5B in GMS/Sales is reasonable over the next 3-5 years, as ETSY is unique as a portfolio of brands that span multiple categories and geographies with still plenty of Retail 101 retention and loyalty initiatives to drive market share gains. Our sum-of parts analysis yields a $260-$280 stock; we think recent sell-off presents an opportunity."

For an analyst ratings summary and ratings history on Etsy click here. For more ratings news on Etsy click here.

Shares of Etsy closed at $205.30 yesterday.

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