- The shares of Etsy Inc (NASDAQ: ETSY) have received a price target decrease from $260 to $245. These are the details.
The shares of Etsy Inc (NASDAQ: ETSY) have received a price target decrease from $260 to $245. And Jefferies analyst John Colantuoni is maintaining a “Buy” rating on the company shares as the company’s Q2 EBITDA margin guidance came in 350 basis points below the prior consensus.
Colantuoni believes that this has been a key overhang as the market has been concerned that the second quarter guidance could be a negative indicator for the 2022 EBITDA. However, Colantuoni believes that Etsy is investing near-term and the 2021 margin contraction will be temporary.
Due to the 30% downside in the stock price since early March, Colantuoni believes that this is a compelling buying opportunity for the company.
Atlantic Equities analyst Daniela Nedialkova recently assigned Etsy a $200 price target and assigned the company an “Overweight” rating. Nedialkova pointed out that Etsy is a unique digital retail growth story — which benefits from several consumer trends like the growth of digital commerce. Nedialkova is expecting revenue growth above 20% over the next few years along with ongoing EBITDA growth.
Note: An earlier version of the article showed that the price target was $260, but it has been corrected to $245.
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