Jefferies raised its price target on the Brooklyn, N.Y., company.
Fourth-quarter net income quadrupled to $149 million, or $1.08 a share, from $31 million, or 25 cents a share, in the year-earlier quarter. Revenue more than doubled to $617 million from $270 million.
A survey of analysts by FactSet produced consensus estimates of 59 cents a share of profit on revenue of $516 million.
Etsy stock at last check traded at $209.73, up 6.2%. It has quadrupled (up 316%) over the past year, as consumers who were stuck at home during the COVID pandemic have enjoyed spending binges. That far surpasses the 22% gain for the S&P 500.
Spending for COVID masks has been especially strong on Etsy.
Jefferies analyst John Colantuoni lifted his share-price target to $260 from $245, maintaining his buy rating.
The pandemic has changed consumer behavior, fostering online shopping that benefits Etsy, he said in a commentary, according to Bloomberg.
In light of management’s historically conservative guidance, the company’s growth acceleration is particularly encouraging, he said.
KeyBanc has an overweight rating. The “banner year” of 2020 should prove an important inflection point for the company, analyst Edward Yruma said, according to Bloomberg.
Foreign sales and sales to repeat buyers more thann doubled in the fourth quarter, he noted. And opportunity for new customers abounds, he said.
Meanwhile, Etsy Chief Executive Josh Silverman told CNBC Friday that the company for now won’t accept bitcoin as a form of payment, saying it first has to be more widely owned.