Etsy is a publicly traded e-commerce marketplace that allows entrepreneurs and craft enthusiasts to buy, sell and interact with one another. It operates in more than 200 markets around the world, giving small business owners an opportunity to expand their reach and build their customer base. The site also offers tools and resources to help new shop owners get off the ground, such as direct payment processing, store customization and promotional tools.
The Piper Sandler team has recently upgraded Etsy stock to Overweight from Neutral with a $140 price target. According to their 45th Gen Z survey, Etsy was mentioned as one of the favorite sites for this focus group. Its core marketplace strengths of sustainability, intention, and personalization are highlighting the company among younger consumers. The analysts also believe that the site has made significant strides in reactivating lapsed buyers, which should further help its active buyer growth.
The Piper Sandler team has also noted Etsy’s strong financials. They point out that while it remains exposed to macro conditions and consumer spending downturns, it has growth company characteristics at a GARP valuation.
The analyst team behind this upgrade has been led by Michael G. Hihn. Hihn is a Managing Director at Piper Sandler and managing editor of their 45th Gen Z survey. He specializes in research of digital media and internet retail companies. He holds a BS in Business Administration from University of California, Berkeley. Before joining Piper Sandler, Hihn worked for the equity research analyst at ThinkEquity Partners, and prior to that, he was part of the Morgan Stanley Internet research team for over 6 years. With his extensive experience and knowledge in the industry, Hihn and the Piper Sandler team have been able to provide investors with valuable insights into what should be a great investment opportunity.