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Etsy Inc ETSY Stock Quote

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Morningstar‘s Stock Analysis ETSY

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Is it the right time to buy or sell?
Is it the right time to buy or sell?

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Shaving Our FVE on Macroeconomic Pressure Despite Resilient Sales for Wide-Moat Etsy; Shares Still Cheap

Sean Dunlop Equity Analyst

Analyst Note

| Sean Dunlop |

Wide-moat Etsy posted resilient third-quarter results, with $594 million in sales and $3.0 billion in gross merchandise sales edging our $567 and $2.9 billion forecasts. Results were particularly impressive when juxtaposed against a worsening macroeconomic backdrop and acute pressure on e-commerce competitors, with the online channel categorically skewing toward more discretionary products like home decor, apparel, and crafts, where consumers typically first trim spending. More concretely, the core Etsy marketplace is 2.3 times larger than the comparable period in 2019, representing only a modest slowdown relative to second-quarter levels (2.4 times), which suggests to us that pressures from reopening trends and stimulus have largely abated. By our estimates, this figure handily outstrips broader U.S. e-commerce (mid-80's) and publicly traded e-commerce competitors (eBay at 2.5% and Amazon around 40%), indicating that the artisanal marketplace remains on much firmer competitive footing than the market gives it credit for. Nevertheless, we expect to lower our $180 fair value estimate by a high-single-digit percentage in light of our expectations for slower growth in 2023 and 2024, corroborated by fourth-quarter guidance below our ex ante forecasts—with rising costs of borrowing and persistent inflation likely to curtail consumption spending over the next four to six quarters, in our view.

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Key Statistics ETSY

Company Profile ETSY

Business Description

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 $13.5 billion in 2021 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 2021, the firm connected more than 96 million buyers and more than 7.5 million sellers on its marketplace properties: Etsy, Reverb (musical equipment), Elo7 (crafts in Brazil), and Depop (clothing resale).

117 Adams Street
Brooklyn, NY, 11201
Industry Internet Retail
Employees 2,786

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FAQs for Etsy Inc Stock

No. ETSY does not currently have a forward dividend yield.
Dividend yield allows investors, particularly those interested in dividend-paying stocks, to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

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ETSY’s market cap is 15.93 Bil.
Market capitalization is calculated by taking a company’s share price and multiplying it by the total number of shares. It’s often used to measure a company’s size. In the Morningstar Style Box, large-cap names account for the largest 70% of U.S. stocks, mid-cap names account for the largest 70–90%, and small-cap names are the remaining 10% of companies.

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ETSY’s stock style is Mid Growth.
Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated.

High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks. These are established companies that reliably pay dividends.

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ETSY’s beta can be found in Trading Information at the top of this page.
A stock’s beta measures how closely tied its price movements have been to the performance of the overall market.

Compare ETSY’s historical performance against its industry peers and the overall market.