Etsy Inc (NASDAQ:ETSY) stock price closed at $75.30 on Wednesday, marking this week a first major pullback for ETSY shares since early April, when ETSY started a run toward $85.
The massive move from $35 up to $85 more than doubled ETSY market cap, but that type of run cannot last for months. Seems like ETSY is resetting itself, going back to pre-coronacrisis levels. High $60s to low $70s.
ETSY stock saw its all-time-high price on May 15th but then it started going down to lose $10 in a couple of days. Now we are at $75-ish and seems like Thursday is going to be another red day for ETSY.
So, staying cautious is the best thing to do with ETSY at this point in time. If you bought ETSY during March selloff you did a great thing for your portfolio, but if you are thinking about buying it now you may think twice about it.
Based on 16 analysts offering recommendations ETSY stock is a “Moderate Buy” where 10 analysts give a “Strong Buy”, 2 Moderate Buy, 3 Hold, 1 Strong Sell