NEW YORK (TheStreet) -- Shares of Etsy  (ETSY - Get Report) are soaring 14.12% to $11.48 on heavy trading volume Monday morning after Citigroup initiated coverage with a "buy" rating and $14 price target on the stock.

The firm contended that consensus estimates are "far too conservative," and said it expects the Brooklyn-based marketplace to continue to take market share, according to TheFly.

"The reason I'm excited about [the call] is because this is a company that initially people felt was just over-hyped, overvalued," TheStreet's Jim Cramer said on CNBC's "Squawk on the Street" this morning.

Management has since gotten "very serious," and Etsy now has a real business model, Cramer noted.

"Anyone who sold on Etsy knows that this thing is for real," he added. "It's a great market. They fixed up their website, and I think it's a great little company."

Separately, TheStreet Ratings team rates the stock as a "sell" with a ratings score of D+.

Etsy's weaknesses include its weak operating cash flow.

You can view the full analysis from the report here: ETSY

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.