- Analysts hailed Etsy Inc (NASDAQ:ETSY) by bumping up price targets and bullish ratings.
- Guggenheim analyst Seth Sigman initiated coverage of Etsy with a Buy and $330 price target, implying a 16% upside.
- The analyst launched coverage on direct-to-consumer e-commerce stocks and is positive on the group entering fiscal 2022.
- Online channel share gains should reaccelerate early next year after months of declines, and normalizing consumer spending growth may be good for the stocks.
- For Etsy, the analyst has a favorable view of its marketplace model and its ability to be “significantly larger” and more profitable over time.
- Needham analyst Anna Andreeva raised the price target on Etsy to $325 from $265, implying a 14% upside, and maintained a Buy after hosting investor meetings with the company’s management team.
- Investments in marketing are driving inflection in retention and frequency, while the supply chain advantage of the model is driving share gains in this environment.
- Price Action: ETSY shares traded higher by 1.82% at $284.32 on the last check Tuesday.
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