20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Etsy Inc (NASDAQ:ETSY) has received a new initiation of coverage.
The Analyst
Nomura Instinet analyst Mark Kelley initiated coverage on Etsy's stock with a Buy rating and a $70 price target.
The Thesis
Kelley said Etsy has demonstrated consistent management execution since 2017, and has reaccelerated the business through enhanced pricing mechanisms while educating and arming sellers with the right tools to succeed.
“Etsy has proved that the large conglomerate platforms don’t always win, especially when the category is anything but a commodity,” he wrote in a note.
The analyst said some of Etsy’s newly added programs, although very early, are likely to benefit sellers and allow the company to improve its margin profile as GMS growth continues.
“We’re also positive on Reverb, which isn’t baked in Street models and we believe this new category will likely prove that other verticals can be successful on the Etsy platform,” said Kelley.
The analyst is also positive on the newly added free shipping initiative on items over $35, as well as the Etsy Ads product: “While we have yet to see the impact on these initiatives, we believe they’re good for sellers, buyers, and the platform as a whole.”
Price Action
Etsy shares are up 1.11% at $56.44.
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20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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