Stifel analyst Mark Kelley maintains $Etsy Inc (ETSY.US)$ with a hold rating, and maintains the target price at $56.
According to TipRanks data, the analyst has a success rate of 73.0% and a total average return of 31.5% 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 experienced a shortfall in gross merchandise sales, yet surpassed expectations in revenue and EBITDA due to an improved take rate. Analysts note that the company is undertaking numerous enhancements to refine its product assortment, search functionality, and the overall customer experience. However, it is anticipated that the headwinds affecting merchandise sales will continue until there is a stabilization in discretionary consumer demand.
Etsy's recent performance presented a varied outcome, with gross merchandise sales expansion falling short of projections, counterbalanced by improved take rates and margins. The company continues to navigate a difficult macro environment for consumer discretionary goods, compounded by its lack of participation in significant discounting events that are currently appealing to consumers.
Etsy's recent financial outcomes showed robust revenue and adjusted EBITDA, despite a modest shortfall in Gross Merchandise Sales. The company also identified several challenges faced during the quarter, such as Hurricane Helene, significant sports events, elections in the UK and France, and distractions from 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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