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published in Blogs
Apr 26, 2021
Etsy (ETSY, $207.26) stock downgraded by KeyBanc

Etsy (ETSY, $207.26) stock downgraded by KeyBanc

On Monday, e-commerce company Etsy's stock dropped premarket Monday after a KeyBanc analyst downgraded it to sector weight from overweight. 

Analyst Edward Yruma cited valuation and a lower near-term likelihood of positive earnings revisions as factors behind the revised outlook.

According to Yruma, Etsy has outperformed the broader market substantially  since KeyBanc first set an outperform rating on the company in October 2017. But at present, the analyst views the stock's valuation as "fair" and the current consensus analyst expectations "reasonable."

Related Tickers: ETSY
Related Portfolios: E-COMMERCE SECTOR