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7 Stocks to Buy For the Gig Economy - 6 of 7

 
 

#6 - Etsy (NASDAQ:ETSY)

Etsy (NASDAQ:ETSY) is one of the purest of pure plays in the gig economy. If you’ve ever created something and been told, “you could sell that,” then Etsy might be for you. And, it appears, that’s exactly what many people started to realize during the pandemic.

Etsy’s been around for about 15 years. But what was a company showing slow, steady growth has seen revenue nearly double during the pandemic. That has helped shoot ETSY stock up over 330% for the year. And quite frankly, it’s looking overvalued at the moment. But that’s OK. The long-term narrative on Etsy is still sound. It’s just a little overheated right now.

As more Americans go back to something resembling a normal routine, it will sift out those on Etsy because of spare time and those trying to build a business. Wait until then and look for a pullback to buy shares of this stock. 

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items. Read More 
Current Price
$56.81
Consensus Rating
Hold
Ratings Breakdown
8 Buy Ratings, 13 Hold Ratings, 4 Sell Ratings.
Consensus Price Target
$63.17 (11.2% Upside)

 

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