Etsy Stock Rises For Third Straight Session, Retail Interest Heats Up Amid Rebound Signs

• On Stocktwits, the message volume for the ETSY ticker surged 300%.
• The stock has gained over 6% in the last three sessions.
• Although a majority of analysts recommend a ‘Hold,’ retail users are closely watching for signs of a potential rebound. 

Etsy, Inc.’s stock drew heavy chatter on Stocktwits, with retail traders closely watching what seems to be a rebound taking shape. 

After a substantial drop following the company’s quarterly report on Oct. 29, shares are on an upward track. They have gained for three straight sessions, rising 6% cumulatively. 

The rebound has sparked renewed interest on Stocktwits, where message volume for ETSY stock has surged 300% in the past 24 hours. However, the sentiment dropped several points lower in the ‘bearish’ zone as of early Wednesday, from the prior day.

What Is Retail Saying?

“$ETSY looks like a reversal setup with upside potential,” said one Stocktwits user. 

“After a period of consolidation and pullbacks earlier in the year, price action and recent fundamentals show signs of stabilization: the stock is trading around ~$60 and has cleared short-term congestion, while a nearby supply zone (the $72–$76 area) represents the main resistance to overcome before a more sustained leg higher.”

Holiday Cheer Incoming

Notably, investors are keeping a close eye on retail stocks as the holiday shopping season kicks off. Etsy’s online marketplace mainly features handmade, vintage, and craft items. In September, the announcement of a partnership with OpenAI, which enables users to purchase Etsy items directly from the ChatGPT app, boosted the company’s stock at the time.

Late last month, Etsy reported mixed third-quarter results and announced that its Chief Growth Officer, Kruti Patel Goyal, would replace the current CEO, Josh Silverman, in January.

Analyst Take 

Currently, 21 of the 31 analysts covering the stock recommend a ‘Hold,’ eight recommend ‘Buy’ or higher, and two advise ‘Sell,’ according to Koyfin. Their average price target of $69.23 implies a nearly 9% upside from the stock’s last close.

So far this year, ETSY has gained 20.5%.

For updates and corrections, email newsroom[at]stocktwits[dot]com.

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