ETSY investors were likely spooked this aftermarket by Barrons's report: "Etsy Stock Gets a Double-Downgrade. Analyst Says Valuation Looks Unsustainable. ..." For more coverage, read the full article here. On the back of this news, Etsy sank -5.28% to a price of $107.2. Are the markets overreacting?
Etsy, Inc. is an American e-commerce company focused on handmade or vintage items and craft supplies. The company belongs to the Consumer Discretionary sector, which has an average price to earnings (P/E) ratio of 22.33 and an average price to book (P/B) ratio of 3.12. In contrast, Etsy has a trailing 12 month P/E ratio of -19.49 and a P/B ratio of 21.42.
Etsy has moved -21.79% over the last year compared to -6.28% for the S&P 500 -- a difference of -15.51%. Etsy has a 52 week high of $151.5 and a 52 week low of $67.01. At today's price of $107.2 per share, Etsy is -23.05% away from its target price of $139.31, and on average, analysts give the stock a rating of buy. 12% of the company's shares are linked to short positions, and 101% of the shares are owned by institutional investors.