Is Etsy Stock a Buy?
Most of us have purchased gifts for our friends and loved ones during the holiday season. There's probably no better place to find unique, handcrafted gifts than Etsy's (NASDAQ: ETSY) online platform. The company's online marketplace offers creative goods and unique merchandise that connects millions of buyers and sellers. The COVID-19 pandemic has led to a surge in e-commerce, pushing up Etsy's gross merchandise sales (GMS) and revenue to new highs.
Etsy has always been known as a go-to place for gift-shopping, but the pandemic has accelerated the shift to online shopping that has hugely benefited the company. Aside from purchasing face masks to protect themselves from the coronavirus, more people have also shopped for other products and miscellaneous items with greater frequency, pushing the number of active buyers on Etsy's platform to 69.6 million, up 55.4% year over year.
Since early 2017, Etsy's shares have soared more than 16-fold from $13 to $211 and continue to scale new all-time highs. Is there still room for the business to enjoy further growth?
Source Fool.com
