Etsy (ETSY) Earnings Preview - Roth Capital
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Roth Capital analyst Darren Aftahi reiterated a Buy rating and $245.00 price target on Etsy (NASDAQ: ETSY) noting that third-party data suggests e-commerce trends remained favorable in 1Q, albeit slower than ETSY’s implied guidance, suggesting the company could be gaining market share. Roth is modeling 1Q21 revenue/adj. EBITDA/EPS of ~$529.4/$174.1M/$0.79, marginally lower than consensus estimates of ~$529.9M/$175.5M/$0.88.
The analyst stated "we believe the focus remains on the forward outlook due to economic reopening and “if” ETSY provides 2Q guidance, what that could look like in rate of change terms. Given the tougher comps, we believe if GMS/revenue can remain positive y/y, aided by international expansion, shares stand to benefit given the profitability of the business."
Shares of Etsy closed at $207.49 yesterday.
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