Jefferies Reiterates Buy Rating on Etsy (ETSY) Ahead of Earnings as Traffic Growth Accelerated

Jefferies analyst John Colantuoni reiterated a Buy rating and $245.00 price target on Etsy (NASDAQ: ETSY) ahead of earnings.

He stated "Traffic on ETSY's marketplace grew 87% in Q4, an 18%/40% acceleration from 69%/47% growth in Q3/Q2. This suggests there is upside to 4Q20 consensus GMS, which is calling for a 20% sequential deceleration to 81% growth (excludes Reverb). In addition, traffic growth in January was roughly consistent with Q4 at 84%, while Google search trends accelerated to the highest level since July. The fact that traffic accelerated on already elevated levels during the key holiday season supports our view that e-commerce consumption has permanently increased and ETSY is a primary beneficiary given its strong presence in home nesting categories".

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 $214.50 yesterday.

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