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Etsy Surges to Record High as Analysts Cheer Growth Outlook

  • Loop raises price-target to Street-High as others also boost
  • Reinvesting strategy to increase future sales: D.A. Davidson

Etsy Inc.’s fourth-quarter sales surpassed expectations, sending shares to their highest level since the company’s 2015 initial public offering.

The results, which included a fourth-quarter revenue beat and a 2019 sales growth forecast of 23 percent to 25 percent, caused Loop Capital to boost the shares to a Street-high price target of $80. Meanwhile, RBC, which rates the shares neutral, became more constructive on the stock as management continues to “craft its way up.” Analysts were especially impressed that the full-year guidance beat expectations even as the Brooklyn, New York-based online seller of handcrafted and vintage items scales back on its marketing spend in the first quarter.