Fly News Breaks for September 19, 2019
Sep 19, 2019 | 07:24 EDT
BTIG analyst Marvin Fong kept his Buy rating and $79 price target on Etsy, saying that while the company's convertible debt offering announcement garnered the most attention in its announcement yesterday, the subsequent 8-K filing indicated that its Reverb financials for 2018 and the first half of 2019 have been better than anticipated. The analyst notes that the first-half revenues of the business are up 37%, which is "significantly better" than the 20% growth that he estimated, and he models Reverg to generate $45M-$50M in revenue this year.
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