Etsy Stock Price Risks More Pain for Investors

Etsy Inc.’s bad news for investors goes beyond the 66% plunge that’s the second-biggest in the S&P 500 Index this year: The unraveling of the platform for craft sales may have further to go, especially with the fastest inflation in 40 years crimping consumer budgets.

With Etsy shares already near their cheapest on record, UBS Group AG slashed its price target by 50% this month, while Morgan Stanley said Wall Street’s earnings estimates for the second half might still be too high. The boost in online sales from the pandemic is fading, said Ken Leon, director of equity research at CFRA.

Source link Shopify Information

Post Author: Adam Jacob

Leave a Reply

Your email address will not be published. Required fields are marked *