Piper Sandler upgraded Etsy stock to the equivalent of buy on Tuesday and said it has momentum with Gen Z.
Etsy Inc. stock rose 2% Tuesday, after Piper Sandler upgraded the stock to the equivalent of buy from neutral and said its annual survey of teens has found the company has momentum with Gen Z.
Etsy’s ETSY core marketplace strengths of sustainability, intention and personalization are a good fit with the core values of the Gen Z consumer as well as millennials, Yruma wrote. The site has more than 150 million shopkeeping units, or SKUs, with a strong focus on personalization that offers a key differentiator to other retailers and e-commerce sites.its 100 million lapsed buyers , which should help drive stronger active buyer results over the coming quarter,” Yruma wrote.
Rachel Glaser, CFO of Etsy, unpacks how the company plans to support sellers in 2020 and explains why it has been an appealing platform for women to start businesses. Etsy has one of the strongest financial models in Piper’s coverage, with 28% EBITDA margins in fiscal 2022. Over time, stronger results at Depop. as well as Elo7 and Reverb, two other e-commerce sites Etsy has acquired, are expected to minimize the current estimated EBITDA margin drag of about 400 basis points, said Yruma.
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