Analysts are Initiating Coverage on Etsy, and They're Not Very Bullish
Buy, hold, or sell this handmade hub?
A mural is displayed at Etsy headquarters.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
Etsy has been a public company for about a month, and several analysts are initiating coverage on the Brooklyn-based firm famous for creating an online marketplace that connects sellers of mostly handmade and vintage goods with consumers around the world.
Goldman Sachs and Morgan Stanley both gave the firm a "neutral" rating with price targets of $20. Their reasoning was simply that a lot of the success is already priced in.