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Needham & Company Adds Etsy (ETSY) to Conviction List, Top eCommerce Name for 2022

January 6, 2022 6:29 AM EST
Get Alerts ETSY Hot Sheet
Price: $135.01 --0%

Rating Summary:
    20 Buy, 13 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 30 | New: 17
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Needham & Company analyst Anna Andreeva reiterated a Buy rating and $325.00 price target on Etsy (NASDAQ: ETSY) while adding the company to the Conviction List and highlighting it as her Top Pick for 2022.

The analyst stated "We expect frequency/retention initiatives to help support double-digit growth in GMS/buyer at the core Etsy brand for the foreseeable future (this metric is still at a fraction compared to POSH's $250 or W's $480), and while the House of Brands portfolio is still small at <15% of GMS today, we think Etsy's expertise should drive sales/take rates and ultimately profitability. We are tweaking down our 4Q21 sales/GMS estimate to the mid-point of the guide--and view recent multiple compression (EV/Sales multiple on '22 is now 2-3x off the recent highs) as an attractive entry point for a name that warrants a premium valuation given its best-in-class growth and profitability."

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 $188.35 yesterday.



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