Here's My Top Stock to Buy Now, and It's not Even a Question
While it seems like most companies are underachieving this earnings season compared to Wall Street estimates, Etsy's (NASDAQ: ETSY) latest numbers were a welcome surprise. The online marketplace for special and handcrafted goods reported revenue of $594.5 million and adjusted earnings per share of $0.58, both exceeding consensus forecasts. And the stock jumped more than 10% following the upbeat news.
Etsy's recent performance is a good reason for investors to take a closer look at the stock as we head toward the key holiday shopping season. Here's why this top e-commerce stock might be a worthy addition to portfolios right now.
During the three-month period that ended Sept. 30, Etsy posted gross merchandise sales (GMS) of $3 billion, which was down 3.3% from the year-ago period. Active buyers of 94.1 million and active sellers of 7.4 million both decreased compared to the year-ago quarter. Despite these headwinds, revenue was still up 11.7% year over year.
Source Fool.com
