Added to YB: 2024-11-22
Pitch date: 2024-11-21
ETSY [bearish]
Etsy, Inc.
+8.13%
current return
Author Info
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Company Info
Etsy, Inc., together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers worldwide.
Market Cap
$4.3B
Pitch Price
$52.40
Price Target
29.00 (-40%)
Dividend
N/A
EV/EBITDA
12.35
P/E
31.69
EV/Sales
N/A
Sector
Broadline Retail
Category
value
Deep dive into Etsy ($ETSY)
ETSY short: Declining buyer growth amid seller influx. Spiral risk: low-quality products flood market, high-value sellers leave, buyers disappoint. High 21% take-rate vs eBay's 14%. Poor acquisitions (Depop $1.5B, $1B impairment). Flat revenue despite $700-800M marketing. DCF fair value $29 vs $51 market price.
Read full article (4 min)