AllAnalyst Report
logoMorningstarMarch 25, 2024

Etsy, Inc.: Value Orientation Poses Stout Near-Term Headwinds, but We Like Etsy's Long-Term Positioning

Symbols
ETSY
Sector(s)
Consumer Cyclical
Rating
Current Price
$67.43
Fair Value
Economic Moat
Stewardship
Summary

Etsy operates a top-10 e-commerce marketplace operator in the U.S. and the U.K., with sizable operations in Germany, France, Australia, and Canada. The firm dominates an interesting niche, connecting buyers and sellers through its online market to exchange vintage and craft goods. With $13.2 billion in 2023 consolidated gross merchandise volume, Etsy has cemented itself as one of the largest players in a quickly growing space, generating revenue from listing fees, commissions on sold items, advertising services, payment processing, and shipping labels.

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