Why Etsy's Stock Is Trading Lower Today
Etsy Inc (NASDAQ:ETSY) shares are trading lower after KeyBanc downgraded the stock from Overweight to Sector Weight.
"We move to Sector Weight given what we view as a fair valuation and lower likelihood of near-term earnings beats," said KeyBanc analyst Edward Yruma.
Etsy is an American retailer of handmade goods, vintage items, and crafted goods. The business model is based on sellers listing products on Etsy's platform.
Etsy was trading 4.46% lower at $205.04 at the time of writing. The stock has a 52-week high of $251.86 and a 52-week low of $61.31.
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