Etsy (ETSY) Stock: $320 Price Target From Citi

By Amit Chowdhry ● Nov 24, 2021
  • The shares of Etsy Inc (NASDAQ: ETSY) have received a price target of $320 from Citi. These are the details.

The shares of Etsy Inc (NASDAQ: ETSY) have received a price target of $320 from Citi. And Citi analyst Nicholas Jones increased the price target from $245 while maintaining a “Buy” rating on the shares.

Nicholas continues to view Etsy as a beneficiary of increased brand awareness exiting the pandemic. And the company’s sales estimates have seen one of the largest improvements throughout and exiting the pandemic, which indicates its valuation multiples can expand further going forward.

Earlier this month, Etsy had reported earnings of $0.62 per share on revenues of $532.4 million, which was higher than what analysts were expecting. And Etsy had guided revenue growth of about 10% year-over-year for the fourth quarter (or between $660 million and $690 million).

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.