Vetr Top Raters Love Etsy Despite Selloff

Shares of Etsy Inc ETSY were trading lower by more than 4 percent on Wednesday and are now lower by nearly 15 percent since the start of 2016.

Despite the stock's recent weakness, the Vetr crowd upgraded Etsy's stock rating to five stars. In fact, shares of Etsy has risen to $7.35 since the prior rating of 4.0-stars was issued just two days ago.

Related link: Here's how crowdsourced ratings can beat the market.

In addition to an upgrade, 90 percent of the crowd's ratings are bullish and the crowd-sourced price target of $8.83 implies an upside of nearly 25 percent.

Racer X, a member of the Vetr crowd, noted that Etsy is "taking market share" against traditional retailers due to its "better business model" and a "more friendly" relationship with its vendors.