top of page
Search

Etsy (ETSY)

  • Writer: Abacus Research
    Abacus Research
  • Nov 25, 2022
  • 1 min read

At its heart, ETSY is just an e-commerce play, but we would argue a quality e-commerce play, with some pricing power. Yes, there is a clear cyclical angle, however we also find a positive structural angle, plus marketplaces don’t get abandoned and Etsy has been showing its resilience in terms of business model by retaining most of its customers and revenue post the pandemic distortion. Etsy has a strong brand, little competition, an asset light model and a profitable business that still has the ability to grow double digits, it is a niche, but we don't know how big it can be. Potential Upside: $165 (+40%) Sensible Downside: $98(-22%)



 
 
 

Recent Posts

See All
Axon:

Axon is shifting from selling individual tools to providing an interconnected ecosystem. Hardware like TASERs and cameras now act as "data generators" that feed directly into high-margin software modu

 
 
 
C.H. Robinson

CHRW has been going through significant change, They are retaking market share. The new CEO has transformed the company by bringing in a lean / AI, that has helped CHRW to grow earnings despite strugg

 
 
 
Brookfield (BN):

We initially wrote up BN in Jan 2024, it has increased 70%, so why mention it again? Firstly, we think the fundamentals are as good now as they were 2 yrs ago, with a >15% IRR on offer. BN is not a we

 
 
 

Comments

bottom of page