Etsy Upgraded at Wolfe Research
<p>Wolfe Research analysts upgraded <a href='https://financialmodelingprep.com/financial-summary/ETSY'>Etsy (NASDAQ:ETSY)</a> from Peerperform to Outperform with a $100.00 price target. Despite a year-to-date decline in Etsy's stock, the analysts see potential for growth recovery in the double digits as macro conditions improve, which could drive high-teens EBITDA growth. </p>
<p>This projection is based on expectations of higher discretionary consumer spending and cost savings, regardless of when the macro conditions improve. </p>
<p>The analysts believe Etsy's shares could trade at a mid-teens EBITDA multiple if growth rates reaccelerate to double digits, alongside margin expansion. Historically, Etsy's multiples averaged around 22x before the COVID pandemic, with growth rates ranging from 15% to 25%.</p>

NASDAQ:ETSY