Oppenheimer Maintains Outperform Rating for Etsy: Here's What You Need To Know

Oppenheimer has decided to maintain its Outperform rating of Etsy ETSY and lower its price target from $135.00 to $90.00.

Shares of Etsy are trading down 3.39% over the last 24 hours, at $62.40 per share.

A move to $90.00 would account for a 44.23% increase from the current share price.

About Etsy

Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.3 billion in 2022 consolidated gross merchandise volume, the firm has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels. As of the end of 2022, the firm connected more than 95 million buyers and 7.5 million sellers on its marketplace properties: Etsy, Reverb (musical equipment) and Depop (clothing resale).

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This article was generated by Benzinga's automated content engine and reviewed by an editor.