UBS said it is incrementally more positive on Etsy ( NASDAQ: ETSY ) after taking in a conference presentation by the online retailer, although the firm warned that the macroeconomic backdrop may still be an issue in 2023.
On the positive side, Etsy ( ETSY ) did sound positive around Q4 trends, citing better search capabilities, seller sponsored promotions, as well as affordability, despite the competitive environment as well as tougher comparables. Also, Etsy's ( ETSY ) new buyer additions are noted to still be robust and significantly above pre-pandemic levels. Looking ahead, Etsy ( ETSY ) execs also discussed the potential for higher take rates from seller services and sees upside for growth in 2023 from product and marketing initiatives, as well as a benefit from strength in new buyers and habitual/repeat purchasers.
UBS kept a Neutral rating on Etsy ( ETSY ).
Read the full transcript of Etsy's ( ETSY ) presentation at the UBS Global TMT Conference.
Shares of Etsy ( ETSY ) have moved up more than 30% over the last six weeks but are still down sharply for the year.
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Etsy points to positive Q4 trends at investor conference