What's Going On With Etsy Stock Thursday?
Portfolio Pulse from Adam Eckert
Etsy Inc's shares are trading lower following the company's Q3 results and several analysts lowering their price targets. Etsy's Q3 revenue of $636.3 million missed estimates of $640.566 million, while its EPS of 64 cents beat estimates of 51 cents. The company's consolidated GMS was $3 billion, up 1.2% YoY. Etsy expects Q4 GMS to decline in the low-single-digit range YoY. Analysts from Needham, Goldman Sachs, and Wedbush have maintained their ratings but lowered their price targets.
November 02, 2023 | 2:29 pm
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NEGATIVE IMPACT
Etsy's shares are trading lower after Q3 results missed revenue estimates and several analysts lowered their price targets. The company expects Q4 GMS to decline YoY.
Etsy's Q3 revenue missed estimates, which is a negative signal for investors. Additionally, several analysts have lowered their price targets, indicating a bearish outlook. The company's expectation of a decline in Q4 GMS further adds to the negative sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100