Stock Market Sell-Off: Is Etsy a Buy?
Etsy (NASDAQ: ETSY) stock investors have been on a wild ride so far in 2023. Shares had been up by nearly 20% by early February but are now in negative territory for the year. Major Wall Street worries include slowing consumer spending patterns, which might pinch sales and earnings for the e-commerce platform.
But Etsy has a good shot at generating solid long-term growth if it can continue winning market share while expanding the services it provides to its merchant partners. Let's take a look at whether that bullish thesis makes the stock a compelling buy today.
Etsy's last earnings report showed solid momentum into early 2023. Sure, merchandise volumes declined 4% in the fourth quarter compared to booming growth a year ago. The company also shed buyers year over year, as consumers became less interested in e-commerce compared to earlier phases of the pandemic.
Source Fool.com
