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ETSY

Etsy

$69.40

-0.36 (-0.52%)

07:20
04/04/19
04/04
07:20
04/04/19
07:20

Etsy initiated with a Buy at Canaccord

Canaccord analyst Maria Ripps initiated Etsy (ETSY) with a Buy rating and $85 price target, telling investors in a research note that it takes a "special value proposition" for companies to prosper in an ecommerce landscape dominated by Amazon (AMZN). Ripps says she sees Etsy benefiting from a unique supplier base, a differentiated value proposition for shoppers, and a customer experience that values other elements of a transaction above fast free shipping, with added tailwinds of a large, under-penetrated market and specific operating improvements that should continue to make the business more efficient. Additionally, she contends that Etsy's new management has done an "admirable" job bringing the platform closer to best-in-class peers, though she sees room for improving operating performance leading to robust growth and stronger profitability.

ETSY Etsy
$69.40

-0.36 (-0.52%)

03/19/19
BTIG
03/19/19
NO CHANGE
BTIG
Neutral
BTIG sees limited impact to Etsy from 'Checkout on Instagram'
Facebook's (FB) "Checkout on Instagram" announced today focuses on large sellers, which means it is not yet a competitor of Etsy (ETSY), BTIG analyst Marvin Fong tells investors in a research note titled "In Instagram, Sellers Could Soon Have a New Sales Channel, But We See Limited Impact to Etsy." However, Instagram mentions in its blog post that in the future it will work with Shopify-type (SHOP) platforms, indicating that it intends to reach into the small-to-medium size businesses, the analyst adds. He points out that BuzzFeed even identified Etsy as a future target of Checkout by name. Fong's quick analysis, which "pessimistically" assumes Instagram can convert 10% of an Etsy seller's Instagram followers, puts the impact to Etsy's volume at around 2%. The analyst estimates about 41% of large Etsy sellers are already able to integrate with Instagram. He also found that found that ~25% of large Etsy sellers have no Instagram presence. Fong keeps a Neutral rating on Etsy.
03/28/19
OPCO
03/28/19
INITIATION
OPCO
Perform
Etsy initiated with a Perform at Oppenheimer
Oppenheimer analyst Jason Helfstein started Etsy with a Perform rating and no price target. The analyst cites valuation for the neutral rating.
03/28/19
03/28/19
INITIATION

Perform
Etsy initiated with a Perform at Oppenheimer
As previously reported, Oppenheimer analyst Jason Helfstein started Etsy with a Perform rating and no price target. The analyst says it is hard for him to justify Etsy's premium valuation at 8.1-times his expected FY20 sales relative to the peer group average multiple of 4.7-times, while the company's expected annualized revenue growth in FY18-FY20 is comparable to that of its peers' 27%. Helfstein believes that Etsy is operating a "great business", but the stock comes with an "expensive price".
03/29/19
03/29/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Etsy (ETSY) initiated with a Perform at Oppenheimer. 2. Apellis (APLS) and uniQure (QURE) initiated with an Outperform at Baird. 3. BRT Apartments (BRT) initiated with a Buy at DA Davidson. 4. Lilis Energy (LLEX) initiated with an Equal Weight at Stephens. 5. Outfront Media (OUT) initiated with an Outperform at Oppenheimer. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

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HPQ

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