Etsy Stock Coverage Initiated With 'Hold' Rating at Topeka Capital
NEW YORK (TheStreet) -- Etsy (ETSY) - Get Report stock coverage was initiated by analysts at Topeka Capital Markets with a "hold" rating and a $9 price target.
"Etsy is a differentiated e-commerce marketplace with a community of buyers and sellers of handmade goods," analysts noted.
The firm sees both upsides and downsides. One positive is that there's notable opportunity for Etsy to grow its number of buyers and services to sellers in order to boost revenue growth.
However, one downside is that competition is growing with Amazon.com (AMZN) for instance, having a similar platform that sells handmade goods.
In order to overcome this challenge, the company most do more marketing and mobile product investment, analysts suggested.
The firm is bullish long term, but believe that headwinds could impact the company short term.
Etsy shares closed Tuesday's trading session up 0.34% to $8.81.
Based in Brooklyn, Etsy operates online and offline marketplaces to buy and sell handmade items, vintage goods, and craft supplies.
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