Benefiting from the increase in website visits during the peak sales season! Etsy is optimistic about the fourth quarter!

AMZ23 learned that according to a research report from Oppenheimer, Etsy will benefit from the rapid development of e-commerce during the 2022 holiday sales season. According to data from Similarweb, Etsy's website visits in the fourth quarter of 2022 increased by 7% year-on-year, an increase of 3% from the third quarter of 2022, and a decrease of 5% from the second quarter of the same year. Analysts said that independent visits also increased by 15% in the fourth quarter, higher than the 7% increase in the third quarter.

Etsy shares rose more than 2% on February 4 and are up 14.5% year to date. Analysts rated the stock as outperform and raised their price target from $125 to $150, which represents a 9% upside from current levels.

Data shows that Etsy has been gaining market share since July. The research report said that analysis from SpendingPulse showed that Etsy's stock had been rising throughout the holiday sales season.

Analysts forecast Etsy's gross merchandise sales to grow 6% in 2023, which is in line with Wall Street's consensus. Analysts also model Etsy's revenue in 2023 to grow 8% from 2022, slightly below consensus.

The research report said that Etsy's outperformance in the fourth quarter of 2022 mainly benefited from sellers' adoption of free shipping services, marketing efficiency, the successful execution of a unified advertising platform, and the announcement and implementation of commission increases.

It is learned that Etsy will announce its Q4 2022 earnings on February 23. Analysts expect earnings per share of 80 cents and profits of $753 million.

Editor ✎Estella/

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