This Etsy Analyst Is Skeptical Of Revival In Core GMS Growth After Depop Sale To eBay

Benzinga_recent_news02-20 20:52

The sale of Depop allows Etsy Inc (NYSE:ETSY) to focus on "driving growth within the core Etsy marketplace," according to KeyBanc Capital Markets’ Ashley Owens. Owens maintains a Sector Weight rating ...

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Simplifies business and allows to focus on core marketplace growth. This analyst expresses concern.","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0957808578.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"ZU\" (USD) ACC","BK4588":"碎股","LU0444973449.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"DU\" (USD) ACC","LU1642822529.SGD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"A\" (SGD) ACC","EBAY":"eBay","BK4524":"宅经济概念","LU0476273544.USD":"CT (LUX) I GLOBAL TECHNOLOGY \"BU\" (USD) ACC","BK4532":"文艺复兴科技持仓","LU1815336760.USD":"THREADNEEDLE (LUX) GLOBAL TECHNOLOGY \"AUP\" (USD) INC","BK4220":"综合零售","LU1059921491.USD":"NORDEA 1 GLOBAL STABLE EQUITY \"HB\" (USDHDG) ACC","LU0444971666.USD":"天利全球科技基金","ETSY":"Etsy, Inc.","LU1854104046.USD":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) ACC","LU0054578231.USD":"BGF SYSTEMATIC SUSTAINABLE GLOBAL SMALLCAP \"A2\" (USD) ACC","LU0868494617.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) ACC","BK4585":"ETF&股票定投概念","LU0942090050.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD)  INC","BK4104":"贸易公司与经销商","BK4122":"互联网与直销零售","LU1623119135.USD":"Natixis Mirova Global Sustainable Equity R-NPF/A USD","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU1712237335.SGD":"Natixis Mirova Global Sustainable Equity H-R-NPF/A SGD","GMS":"GMS Inc.","LU0868494708.USD":"UBS (LUX) EQUITY SICAV - US TOTAL YIELD SUSTAINABLE \"P\" (USD) INC","LU1280957306.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQUITIES \"AUP\" (USD) INC","LU1854103824.USD":"M&G (LUX) POSITIVE IMPACT \"A\" (USD) INC"},"translate_title":"这位Etsy分析师对Depop出售给eBay后GMS核心增长的复苏持怀疑态度","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ETSY":1.5,"GMS":1.5,"EBAY":1},"content_text":"The sale of Depop allows Etsy Inc (NYSE:ETSY) to focus on \"driving growth within the core Etsy marketplace,\" according to KeyBanc Capital Markets’ Ashley Owens.\nOwens maintains a Sector Weight rating on the stock after Etsy agreed to sell Depop to eBay Inc (NASDAQ:EBAY)for $1.2 billion in cash, Owens said in the note.\nCheck out other analyst stock ratings.\nEtsy acquired Depop in July 2021 for approximately $1.625 billion. Since then, the segment became “one of the fastest growing resale marketplaces,\" the analyst stated.\nDepop, as of December 31, has around 7 million active buyers, 3 million active sellers, and GMS (gross merchandise sales) of $1 billion for the full year.\nThe sale to eBay is expected to close in the second quarter. It \"allows ETSY to focus on driving growth within the core Etsy marketplace while also utilizing the proceeds for general purposes/share repurchases, which we view favorably,\" he wrote.\nHowever, the transaction does further simplify Etsy's underlying business, Owens says. Depop was a growth asset and \"we remain cautious as ETSY’s ability to revive core GMS growth remains unproven,\" he adds.\nETSY Price Action: Shares of Etsy had risen by 9.93% to $48.42 at the time of publication on Thursday.\nImage: Shutterstock\nTo add Benzinga News as your preferred source on Google, click here.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2612264746","isCrawlerRequest":true}