Guggenheim has decided to maintain its Buy rating of Etsy ETSY and raise its price target from $105.00 to $125.00.
Shares of Etsy are trading down 0.25% over the last 24 hours, at $109.92 per share.
A move to $125.00 would account for a 13.72% increase from the current share price.
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).
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