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ETSY

Etsy

$42.78

0.95 (2.27%)

06:52
11/26/19
11/26
06:52
11/26/19
06:52

Etsy 19% selloff brings 'compelling buying opportunity,' says Citi

Shares of Etsy have fallen 19% since the company's Q3 results, Citi analyst Nicholas Jones tells investors in a research note. However, When backing out headwinds and contributions, Etsy's updated 2019 guidance implies in-line to slightly-better unit growth, adds the analyst. Further, he believes the company's free shipping initiative, Etsy Ads, and its focus on upper funnel marketing leave it in a "strong position" heading into the holiday season. As such, the reaction to Etsy's Q3 results is overblown and the current valuation provides a "compelling buying opportunity," contends Jones, who keeps a Buy rating on the shares.

  • 10

    Dec

ETSY Etsy
$42.78

0.95 (2.27%)

10/31/19
NOMU
10/31/19
NO CHANGE
Target $61
NOMU
Buy
Etsy price target lowered to $61 from $70 at Nomura Instinet
Nomura Instinet analyst Mark Kelley lowered his price target for Etsy to $61 from $70 saying the company's revenue growth in Q3 was a bit light for the core business as the company faced some headwinds from the adoption of its free shipping initiative. The analyst, however, believes the story is intact and keeps a Buy rating on Etsy.
10/31/19
ROTH
10/31/19
NO CHANGE
Target $59
ROTH
Buy
Etsy price target lowered to $59 from $76 at Roth Capital
Roth Capital analyst Darren Aftahi lowered his price target for Etsy to $59 from $76 and maintained a Buy rating following the company's Q3 results. While the results were mostly in-line, Aftahi tells investors in a research note that growth overall continues to decelerate despite an acceleration in many metrics. He notes that Etsy's core business is facing about 100-200bps in headwinds, some of which could possibly be mitigated over time, and that while the core outlook has moderated, he thinks the early stages of many initiatives leave room for better optimization and could help offset some of the current headwinds.
10/31/19
NEED
10/31/19
NO CHANGE
Target $64
NEED
Buy
Etsy price target lowered to $64 from $75 at Needham
Needham analyst Rick Patel lowered his price target on Etsy to $64 after its in-line Q3 results and narrowed FY19 adjusted EBITDA margins, noting that his concerns with the company's free shipping push and risks related to state taxes factored into the company's revisions. The analyst adds that the company will not reach EBITDA breakeven until the end of 2020 despite the continued "impressive" growth of GMS and buyer count. Patel still keeps his Buy rating on Etsy stock and sees its "key performing indicators" around buyers and GMS per active buyer remaining healthy.
10/31/19
LOOP
10/31/19
NO CHANGE
Target $70
LOOP
Buy
Etsy price target lowered to $70 from $80 at Loop Capital
Loop Capital analyst Laura Champine lowered her price target on Etsy to $70 after its in-line Q3 results, saying the company is "working through implementation" of its latest initiatives that included free shipping, Etsy Ads and the Reverb acquisition. The analyst's updated model calls for higher sales but diluted profitability due to the Reverb acquisitions, adding that while its promoted listings program should boost its flexibility to distribute "seller dollars", the promotional budgets for sellers are not growing yet. Champine still keeps her Buy rating on Etsy and recommends that investors buy the weakness given its long-term growth prospects.

TODAY'S FREE FLY STORIES

RCKT

Rocket Pharmaceuticals

$22.37

2.61 (13.21%)

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  • 08

    Dec

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    Dec

ARGX

Argenx

$147.31

-2.56 (-1.71%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

18:03
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18:03
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Recommendations
Argenx, Johnson & Johnson analyst commentary  »

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ARGX

Argenx

$147.31

-2.56 (-1.71%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

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  • 08

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BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

, JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

17:58
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Recommendations
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BLUE

Bluebird Bio

$79.51

-1.24 (-1.54%)

JNJ

Johnson & Johnson

$140.36

0.79 (0.57%)

AMGN

Amgen

$233.74

0.3 (0.13%)

BMY

Bristol-Myers

$59.94

0.435 (0.73%)

REGN

Regeneron

$372.26

4.02 (1.09%)

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  • 08

    Dec

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    Dec

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BGNE

BeiGene

$186.89

-2.3 (-1.22%)

17:50
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  • 09

    Dec

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LLY

Eli Lilly

$119.59

-0.175 (-0.15%)

16:34
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Eli Lilly presents interim clinical data from LOXO-305 dose escalation trial »

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  • 08

    Dec

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    Dec

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    Dec

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BMY

Bristol-Myers

$59.94

0.435 (0.73%)

16:32
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Bristol-Myers announces data from multiple liso-cel studies at ASH meeting »

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  • 08

    Dec

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    Dec

QURE

uniQure

$66.06

1.5 (2.32%)

16:26
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12/08
16:26
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16:26
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uniQure reports 1-year follow-up data from etranacogene dezaparvovec study »

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  • 09

    Dec

FTSV

Forty Seven

$14.40

0.23 (1.62%)

15:56
12/08/19
12/08
15:56
12/08/19
15:56
Conference/Events
Forty Seven to hold an investor event »

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  • 09

    Dec

AQST

Aquestive Therapeutics

$8.02

-0.34 (-4.07%)

15:50
12/08/19
12/08
15:50
12/08/19
15:50
Conference/Events
Aquestive Therapeutics holds analyst & investor event w/conference call hookup »

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  • 09

    Dec

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    Dec

APRE

Aprea Therapeutics

$26.20

1.995 (8.24%)

15:23
12/08/19
12/08
15:23
12/08/19
15:23
Conference/Events
Aprea Therapeutics to hold a clinical update meeting »

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  • 08

    Dec

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    Dec

BPMC

Blueprint Medicines

$78.50

3.92 (5.26%)

15:18
12/08/19
12/08
15:18
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15:18
Conference/Events
Blueprint Medicines to hold an anlayst and investor event »

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  • 08

    Dec

IFF

International Flavors

$142.03

0.21 (0.15%)

, DD

DuPont

$63.60

1.6 (2.58%)

13:47
12/08/19
12/08
13:47
12/08/19
13:47
Periodicals
International Flavors in talks to buy DuPont nutrition unit, Bloomberg reports »

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IFF

International Flavors

$142.03

0.21 (0.15%)

DD

DuPont

$63.60

1.6 (2.58%)

KRYAY

Kerry Group

$0.00

(0.00%)

03/08/13
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CHWRF

China Tower

$0.00

(0.00%)

13:40
12/08/19
12/08
13:40
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13:40
Upgrade
China Tower rating change at Deutsche Bank »

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PRNB

Principia Biopharma

$37.30

0.86 (2.36%)

13:37
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12/08
13:37
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13:37
Recommendations
Principia Biopharma analyst commentary at Stifel »

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DY

Dycom

$50.93

0.495 (0.98%)

12:48
12/08/19
12/08
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12:48
Syndicate
Dycom withdraws senior notes offering due to market conditions »

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  • 11

    Dec

IMV

IMV Inc.

$2.92

0.07 (2.46%)

12:30
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KURA

Kura Oncology

$15.67

0.48 (3.16%)

12:27
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Kura Oncology announces updates for lead drug candidate tipifarnib »

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  • 08

    Dec

PTLA

Portola Pharmaceuticals

$29.22

0.86 (3.03%)

12:24
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Portola presents interim results from Phase 2a study of cerdulatinib »

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  • 08

    Dec

11:25
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Conference/Events
Piper Jaffray biotech analysts to hold a KOL luncheon »

Biotech Analysts hold a…

FATE

Fate Therapeutics

$13.64

0.07 (0.52%)

10:49
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Fate Therapeutics announces vivo preclinical data for FT596 »

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STOK

Stoke Therapeutics

$28.91

3.99 (16.01%)

10:04
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Stoke Therapeutics presents STK-001 preclinical data in Dravet syndrome »

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AUTL

Autolus Therapeutics

$14.60

-0.18 (-1.22%)

09:25
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  • 09

    Dec

AGIO

Agios Pharmaceuticals

$40.93

0.81 (2.02%)

09:22
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  • 09

    Dec

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ZIOP

Ziopharm

$5.16

0.06 (1.18%)

09:20
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  • 08

    Dec

TGTX

TG Therapeutics

$7.11

-0.57 (-7.42%)

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  • 09

    Dec

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