Where Will Etsy Stock Be in 1 Year?
Industries like streaming entertainment, digital payments, and online shopping were huge winners because of the coronavirus pandemic. Etsy (NASDAQ: ETSY), for example, added a tremendous number of users to its platform, boosting sales and profits to record levels. The stock rose by a whopping 570% between the start of 2020 to its all-time high in November 2021.
But with that pandemic-generated business surge behind us, consumer behavior in a normalization period, and heightened macroeconomic uncertainty, Etsy shares have been under immense pressure. The popular e-commerce stock is down 24% over the past 12 months and 64% off its peak. Where will Etsy stock be a year from now?
In 2022, Etsy's revenue increased 10.2% to $2.6 billion. This marked a sharp deceleration from its growth rates of 110.9% and 35% in 2020 and 2021, respectively. And management's move to raise the fees charged to sellers bolstered the 2022 figure. Etsy's gross merchandise sales last year slid by 1.3% to $13.3 billion, signaling a notable flattening of interest in the online marketplace.
Source Fool.com
