New analyst ratings pushing Etsy shares to $200? – Idaho Reporter

ETSY stock price

New analyst ratings pushing Etsy shares to $200?

I remember the humble Etsy (NASDAQ:ETSY) beginning and how they managed to pull in the first sellers to their platform. But everything went of really fast and Etsy became a household name.

Post-IPO years didnt go well for Etsy shareholders but in 2018 numbers started to grow and in 2020 coronacrisis hits both the stock market and our daily lives.

Everything changes for Etsy

Investors realized (some sooner than others) that the future is here and that e-commerce is just going to grow, now stronger than before. Lock-downs did its part and yesterday we saw that mask-buying (among other things) was all the rage in Q2 for Etsy Inc.

Analysts’ first upgrades are in

Needham analyst Rick Patel boosted the price target for Etsy from $ 130 to $ 150. Its rating is “Buy”. According to Patel, the high demand for Etsy services is also a result of new initiatives by Etsy and the use of data & analytics and not just the consequence of the special corona economy.

Truist Securities analyst Naved Khan has raised his target price for Etsy stock from $112 to $ 162. His rating is also “Buy”. The impressive performance in the last quarter can be attributed to the differentiated offer from Etsy and increased demand from customers. In the long term, Etsy will benefit from strong user growth and greater engagement on its platform.

Capital Markets has raised the target price for Etsy from $115 to $150 and left the rating at “overweight”. Etsy gross volume gives us confidence that the market has not yet been exhausted, wrote analyst Edward Yruma. Etsy is his favorite growth company, and despite its recent successes, it is still at the beginning of its development.

What now?

Seems as if analysts are always late for the party and their upgrades, usually, should not mean much when you are deciding if you should invest in a company or not.

But it seems like Etsy stock price might go well beyond $300 in the next 2 years or sooner. Of course this is my opinion. Why I think so. It is THE biggest and the most popular site in its niche, basically no real competition. If you want a handmade thingy you go to Etsy.

On top of this, even though Etsy didn’t give guidance for the rest of this year they said that they expect between 85% and 115% in Q3, which is huge.

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