Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

JMP Securities continues to view Amazon and Etsy as the best e-commerce stocks to own

Published 03/16/2023, 03:47 PM
Updated 03/16/2023, 04:03 PM
© Reuters.  JMP Securities continues to view Amazon and Etsy as the best e-commerce stocks to own
AMZN
-
ETSY
-

By Davit Kirakosyan

JMP Securities said it continues to view Amazon (NASDAQ:AMZN) and Etsy (NASDAQ:ETSY) as the best stocks to own in its coverage, given their robust platforms best position them to weather a volatile macro environment.

According to the firm, Etsy’s upper funnel trends remained the most resilient in February within its coverage, while Amazon demonstrated strength compared to its peers with improving upper funnel declines.

The firm reiterated its Market Outperform rating and $140 price target on Amazon, noting that the company averaged 277 million worldwide MAUs in January and February. “Our analysis suggests AMZN will need to average 255M MAUs to achieve consensus estimates of $79B e-commerce revenue (1P+3P). This implies AMZN is pacing ~8% ahead of expectations, said the firm.

It also maintained the Market Outperform rating and $150 price target on Etsy, noting that the company generated 1 billion visits to its websites through February. Assuming no additional month-over-month increases in visits, the company has progressed 67% toward the number of visits required to achieve Q1/23 revenue estimates of $625M.

“This suggests that ETSY is pacing in line with expectations. Given ETSY's strong 3P data trends, we see its stock declines as a result of risk-off behavior from investors,” said the firm.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.