ETSY Inc. (ETSY) – Depop to improve GMS for FY23 & FY24

ETSY Inc. (ETSY) (Q1FY23)

Introduction

Etsy, Inc., together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, France, and India. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers.

The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. In addition, it offers various seller services, including Etsy Payments, a payment processing service; Etsy Ads, an advertising platform; and Shipping Labels, which allows sellers in the United States, Canada, the United Kingdom, Australia, and India to purchase discounted shipping labels.

The company provides various seller tools, including Shop Manager dashboard, a centralized hub for its sellers that includes ability to manage inventory, check order status, receive notifications about repeat customers, add photos, listing videos, and purchase and print shipping labels.

The company also offers educational resources comprising blog posts, video tutorials, Etsy Seller Handbook, Etsy.com online forums, and insights; Etsy Teams, a platform to build personal relationships with other Etsy sellers; and a Star Seller program. As of December 31, 2022, it connected a total of 7.5 million active sellers to 95.1 million active buyers.

Highlights

The company is focused on improving search and discovery and has implemented personalized recommendations and diversified search results based on longer-term buyer interests to enhance the buyer experience. It has also optimized performance marketing attribution models and conducted tests to improve efficiency.

Stock Performance

ETSY Inc stock gave returns of -19.6% and -0.9% in the period of three months and one year. The stock had a 52-week high of $149.91 and a 52-week low of $74.70. The stock gave returns of -15% and CAGR of -5.3% over a period of three years. The stock had a 200- Day Moving Average of $110.67 and a 50-Day Moving Average of $92.69.

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Highlights

Valuation

– Enterprise Value
– CrispIdea Forecast
– CrispIdea Segment Forecast
– Economic Value Added Analysis
– P/E Analysis
– Peer Valuation
– CrispIdea Forecast Relative to Consensus
– Consensus History and Surprise
– Consensus Momentum

Actual & Historical Performance

– Income Statement
– Balance Sheet
– Cash Flow
– 10 Year Historical Performance
– Ratio Analysis
– Du Pont Analysis
– ROIC & ROCE Analysis
– Segment Performance
– Key Metrics
– M&A Deals

Peer Performance

– Summary
– Profitability
– Growth
– Price Performance

Ownership

Stock Price Performance

Crispidea Coverage

No of Pages: 32

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