Etsy Inc.


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SKU: ETSY-1 Category:


Etsy’s stock has taken a beating as a result of various factors such as the omicron variant, soaring inflation, and the high possibility of interest rate hikes. While the company delivered a very strong third quarter, the broader concern about Etsy is with respect to the pandemic-induced surge in demand for its unique goods waning in 2022. The good part about the company is that majority of the customers who discovered or returned to Etsy during the pandemic have stayed with it, performing even better than previous cohorts. Moreover, they are investing in a number of areas aimed at inspiring consumers, engaging them early in their buying cycle, and bringing them back to Etsy. During Q3, the company launched real-time personalization intending to make it easier for customers to find what they’re looking for by leveraging session data about its buyers’ tastes and preferences. They are also driving more buyers to the Etsy app. If the app usage increases, the company may begin to encourage cross-category browsing earlier in the buyer journey, which has traditionally resulted in increased frequency and retention. We are neutral on Etsy and we give the stock a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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