The performance of Etsy Inc. (NASDAQ:ETSY) has been followed with grave interest in recent weeks. While PayPal received upgraded status, Etsy along with Lululemon experienced downgrades. In spite of mixed Q2 results, revenue increased, leading >B. Riley Wealth Advisors Inc.< to amplify their stock position in Etsy. We saw unconventional stock calls from Jim Cramer while Etsy's topline surpassed expectations, but their quarterly earnings per share (EPS) fell slightly short. Further, Etsy suffered a 12% plunge after a decline in gross merchandise sales was reported.
Etsy's CFO announced a planned retirement. Despite such fluctuations, Etsy managed to sustain its rating amid a solid quarter and its position was lifted to Strong-Buy at Evercore ISI. On another note, several companies including Hancock Whitney Corp and O Shaughnessy Asset Management LLC acquired shares, while others like Public Employees Retirement System of Ohio and Public Employees Retirement Association of Colorado sold them.
Etsy once again beat quarterly revenue estimates, showing constant demand for personalized gifts but experienced a challenging consumer environment that resulted in decreasing sales. Their stock target was reduced to $64.00. However, there is notable interest in Etsy's potential growth and possible emergence as a strong long-term investment.
Etsy Stocks News Analytics from Mon, 09 Oct 2023 07:00:00 GMT to Sun, 04 Aug 2024 11:43:32 GMT - Rating -2 - Innovation -2 - Information 6 - Rumor 2