Fly News Breaks for November 26, 2019
Nov 26, 2019 | 06:52 EDT
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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