Morgan Stanley analyst Nathan Feather maintains $Etsy Inc (ETSY.US)$ with a sell rating, and adjusts the target price from $50 to $47.
According to TipRanks data, the analyst has a success rate of 85.7% and a total average return of 22.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Etsy Inc (ETSY.US)$'s main analysts recently are as follows:
The company encountered a shortfall in gross merchandise sales, yet surpassed expectations with its revenue and EBITDA due to an improved take rate, according to an analyst. It was noted that significant alterations are being implemented to enhance the assortment, search features, and the overall customer experience. Nonetheless, it is anticipated that headwinds in merchandise sales will continue until there is a stabilization in discretionary demand.
Etsy's recent performance presented a mixed outcome, with gross merchandise sales growth falling short of expectations, yet this was somewhat counterbalanced by improved take rates and margins. The company continues to face a difficult macro environment for consumer discretionary goods, lacking exposure to the significant discounting events that are appealing to consumers.
Etsy's recent financial outcomes showcased robust revenue and adjusted EBITDA, albeit with Gross Merchandise Sales that fell short of expectations. Management acknowledged various challenges faced during the quarter, such as the effects of Hurricane Helene, significant sporting events, and elections in the UK and France, along with the distraction posed by the U.S. election.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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