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Initiation
Etsy initiated with a Buy at SunTrust » 07:17
12/13/19
12/13
07:17
12/13/19
07:17
ETSY

Etsy

$41.97 /

+0.95 (+2.32%)

SunTrust analyst Naved…

SunTrust analyst Naved Khan initiated coverage of Etsy with a Buy rating and $55 price target. The analyst believes that the company is 2 years into a 5-year period of about 20% revenue growth and 500bps in margin expansion thanks to its "multiple" drivers around its market place and the monetization opportunity of Reverb. Khan also believes that Etsy's entry into "upper-funel" marketing appears "promising", forecasting increased sells participation in its ads over time that should unlock higher brand spending and margin accretion.

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Initiation
Etsy initiated with a Buy at SunTrust » 06:19
12/13/19
12/13
06:19
12/13/19
06:19
ETSY

Etsy

$41.97 /

+0.95 (+2.32%)

SunTrust analyst Naved…

SunTrust analyst Naved Khan initiated coverage of Etsy with a Buy rating and $55 price target.

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Conference/Events
Etsy management to meet with Needham » 04:55
12/10/19
12/10
04:55
12/10/19
04:55
ETSY

Etsy

$41.19 /

-0.07 (-0.17%)

Meeting to be held in New…

Meeting to be held in New York on December 10 hosted by Needham.

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Conference/Events
Etsy management to meet with Needham » 08:19
12/09/19
12/09
08:19
12/09/19
08:19
ETSY

Etsy

$41.26 /

+0.19 (+0.46%)

Meeting to be held in New…

Meeting to be held in New York on December 10 hosted by Needham.

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On The Fly
Mixed Facebook views, 'conviction' in Nike among today's top Wall Street calls » 10:22
12/05/19
12/05
10:22
12/05/19
10:22
FB

Facebook

$199.20 /

+0.5 (+0.25%)

, NKE

Nike

$95.12 /

+1.4 (+1.49%)

, GOOGL

Alphabet Class A

$1,318.54 /

-0.45 (-0.03%)

, GOOG

Alphabet

$1,320.00 /

-1.46 (-0.11%)

, AAPL

Apple

$263.80 /

+2.02 (+0.77%)

, ETSY

Etsy

$39.93 /

-2.25 (-5.33%)

Check out today's top…

Open Full Text

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Downgrade
Fly Intel: Top five analyst downgrades » 10:03
12/05/19
12/05
10:03
12/05/19
10:03
FFIV

F5 Networks

$136.50 /

-7.06 (-4.92%)

, WAT

Waters

$223.70 /

-1.24 (-0.55%)

, ETSY

Etsy

$40.33 /

-1.85 (-4.39%)

, HOME

At Home Group

$5.50 /

-3.05 (-35.67%)

, DFS

Discover

$82.89 /

-0.73 (-0.87%)

, SYF

Synchrony

$37.25 /

-0.22 (-0.59%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. F5 Networks (FFIV) double-downgraded to Underperform from Buy at BofA/Merrill with analyst Tal Liani warning about pressure on the company's revenue growth amid a "secular shift in demand from appliance-based Application Delivery Controllers to software and cloud-based solutions," which has weighed on pricing and also brought in competition from VMware (VMW), Amazon (AMZN), Google (GOOG) along with content delivery network providers like Akamai (AKAM). 2. Waters (WAT) downgraded to Neutral from Buy at BTIG with analyst Sun Ji Nam citing the 19% year-to-date run-up in the stock price and her lacking conviction on why the shares should trade at a premium relative to their peer group. 3. Etsy (ETSY) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Lauren Cassel saying her analysis indicates that headwinds from new state sales tax legislation and Etsy pulling back on its investment in Product Listing Ads could more than offset the benefits of free shipping. 4. At Home Group (HOME) downgraded to Market Perform from Outperform at William Blair with analyst Daniel Hofkin citing "limited visibility" following the company's guidance cut. 5. Discover (DFS) and Synchrony (SYF) were downgraded to Neutral from Buy at Nomura Instinet. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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Downgrade
Etsy downgraded to Underweight from Equal Weight at Morgan Stanley » 06:48
12/05/19
12/05
06:48
12/05/19
06:48
ETSY

Etsy

$42.18 /

-0.43 (-1.01%)

Morgan Stanley analyst…

Morgan Stanley analyst Lauren Cassel downgraded Etsy to Underweight from Equal Weight with a price target of $38, down from $52. The analyst's analysis indicates that headwinds from new state sales tax legislation and Etsy pulling back on its investment in Product Listing Ads could more than offset the benefits of free shipping. Further, a shorter holiday calendar and algorithm changes are two other Q4 risks, Cassel tells investors in a research note. While the analyst likes Etsy's business model and "competitive moat," she now anticipates slowing core gross merchandise sales growth to result in negative sales and EBITDA revisions. This could drive further multiple compression even through Etsy shares are already down 25% quarter-to-date, contends Cassel. Her 2020 EBITDA estimate is now 7% below consensus.

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Conference/Events
Nasdaq to hold a conference » 04:55
12/04/19
12/04
04:55
12/04/19
04:55
CRUS

Cirrus Logic

$70.67 /

-0.22 (-0.31%)

, ETSY

Etsy

$42.61 /

-0.51 (-1.18%)

, OLED

Universal Display

$191.51 /

-2.1 (-1.08%)

, EQIX

Equinix

$553.08 /

+3.24 (+0.59%)

, CDNS

Cadence Design

$65.23 /

-2.26 (-3.35%)

, PTC

PTC

$75.80 /

-0.08 (-0.11%)

, WIX

Wix.com

$122.54 /

+2.09 (+1.74%)

, QLYS

Qualys

$84.45 /

+0.13 (+0.15%)

, JCOM

j2 Global

$95.05 /

-0.665 (-0.69%)

, BCOR

Blucora

$23.15 /

-0.09 (-0.39%)

, DOX

Amdocs

$69.27 /

-0.07 (-0.10%)

, LRCX

Lam Research

$257.86 /

-5.1 (-1.94%)

, CBB

Cincinnati Bell

$6.46 /

+0.01 (+0.16%)

, MKSI

MKS Instruments

$104.56 /

-1.78 (-1.67%)

, AKAM

Akamai

$85.96 /

+0.34 (+0.40%)

, AMBA

Ambarella

$51.50 /

-1.12 (-2.13%)

, SRCL

Stericycle

$63.71 /

+0.33 (+0.52%)

, NXPI

NXP Semiconductors

$114.64 /

-0.17 (-0.15%)

41st London Investor…

41st London Investor Conference will be held in London, England on December 3-4.

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Conference/Events
Nasdaq to hold a conference » 08:58
12/03/19
12/03
08:58
12/03/19
08:58
CRUS

Cirrus Logic

$70.89 /

-0.77 (-1.07%)

, ETSY

Etsy

$43.12 /

-0.27 (-0.62%)

, OLED

Universal Display

$193.61 /

-0.7 (-0.36%)

, EQIX

Equinix

$549.84 /

-17.6 (-3.10%)

, CDNS

Cadence Design

$67.49 /

-2.8 (-3.98%)

, PTC

PTC

$75.88 /

-0.72 (-0.94%)

, WIX

Wix.com

$120.45 /

-0.28 (-0.23%)

, QLYS

Qualys

$84.32 /

-3.19 (-3.65%)

, JCOM

j2 Global

$95.71 /

-1.3 (-1.34%)

, BCOR

Blucora

$23.24 /

-0.285 (-1.21%)

, DOX

Amdocs

$69.34 /

-0.05 (-0.07%)

, LRCX

Lam Research

$262.96 /

-4.26 (-1.59%)

, CBB

Cincinnati Bell

$6.45 /

-0.02 (-0.31%)

, MKSI

MKS Instruments

$106.34 /

-0.04 (-0.04%)

, AKAM

Akamai

$85.62 /

-1.54 (-1.77%)

, AMBA

Ambarella

$52.62 /

-2.09 (-3.82%)

, SRCL

Stericycle

$63.38 /

+0.56 (+0.89%)

, NXPI

NXP Semiconductors

$114.81 /

-0.81 (-0.70%)

41st London Investor…

41st London Investor Conference will be held in London, England on December 3-4.

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Recommendations
Etsy 19% selloff brings 'compelling buying opportunity,' says Citi » 06:52
11/26/19
11/26
06:52
11/26/19
06:52
ETSY

Etsy

$42.78 /

+0.95 (+2.27%)

Shares of Etsy have…

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.

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