Why Etsy Analyst Expects Stock To Continue Its Steep Downtrend
Why Etsy Analyst Expects Stock To Continue Its Steep Downtrend
Shares of Etsy Inc (NASDAQ:ETSY) have lost around 38% year to date, with the company facing intensifying competition.
Etsy Inc（納斯達克:ETSY）的股價今年以來已經下跌約38％，該公司面臨日益激烈的競爭。
According to Goldman Sachs, the current Street estimates for Etsy are at risk, given the low visibility into gross merchandise sales, the potential for persistent share losses, and the risk of margin compression in 2025.
根據高盛的說法，目前對Etsy的街頭估計存在風險，鑑於毛利銷售額缺乏充分的可見度，潛在持續的股份損失以及2025年利潤率收縮的風險。
Analyst Eric Sheridan downgraded Etsy's rating from Neutral to Sell and slashed the price target from $70 to $45.
分析師Eric Sheridan將Etsy的評級從中立下調至賣出，並將價格目標從70美元下調至45美元。
The Etsy Thesis: The company's gross merchandise sales have been declining for longer than expected and there is limited visibility into a "durable return to positive growth," Sheridan said in the downgrade note.
Etsy的觀點：分析師謝里丹在下調說明中表示，該公司的毛利銷售額下滑時間比預期長，且對於"持續實現正增長的可見度有限"。
Check out other analyst stock ratings.
查看其他分析師的股票評級。
"We expect the Etsy Marketplace to continue to lose market share of overall Global ex-China eCommerce sales in the years ahead, based on a combination of our bottom-up fundamental analysis (which points to muted active buyer growth) and our top-down industry work on eCommerce (which points to a maturing and increasingly competitive backdrop)," the analyst wrote.
"我們預計Etsy市場在未來幾年將繼續在全球（除中國以外）電子商務銷售中失去市場份額，基於我們的基本面底層分析（指向緩慢的活躍買家增長）和我們對電子商務行業的宏觀行業研究（顯示市場的成熟和競爭日益激烈）的綜合反映，"分析師寫道。
The Street expectations reflect a meaningful reacceleration in gross merchandise volume "despite low visibility on the catalyst," Sheridan said. Although the stock has tanked year to date, the risk/reward remains "unfavorable" owing to the possibility of "further negative revisions to medium-term consensus estimates," he added.
謝里丹表示，儘管股價今年以來暴跌，但街頭預期反映了毛利銷售額"在催化劑方面儘管缺乏可見度，也反映了毛利銷售額的有意義的重新加速。"儘管股票的風險/回報依然"不利"，因爲可能會"進一步對中期共識估計進行負面修訂"。
ETSY Price Action: Shares of Etsy were up 2.6% to $50.94 at the time of publication on Tuesday.
Etsy的股價在本週二出版時上漲2.6％，至50.94美元。
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Photo: Shutterstock
Photo: shutterstock
譯文內容由第三人軟體翻譯。
