2023-04-04 06:54:51 ET
Etsy ( NASDAQ: ETSY ) shot up in early trading on Tuesday after Piper Sandler upgraded the online retailer to an Overweight rating from Neutral on valuation that it called compelling.
Analyst Edward Yruma expects Etsy ( ETSY ) should see a reacceleration of active buyer growth over the medium term, which is expected to support continued market share gains. Amid the choppy macroeconomic backdrop macro, Etsy's ( ETSY ) EBITDA margin and long-term growth opportunities make it a standout in the online retail sector. Yruma also said Etsy's ( ETSY ) core marketplace strengths of sustainability, intention, and personalization line up with the core values of Gen Z and millennials.
Shares of Etsy ( ETSY ) rallied 3.46% in premarket action on Tuesday to $112.00.
Read the latest breakdowns on Etsy ( ETSY ) from Seeking Alpha contributors.
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Etsy gains after Piper Sandler upgrades on 'compelling' valuation