Latest news with #Reverb
Yahoo
3 days ago
- Business
- Yahoo
Truist Lifts Etsy Price Target Amid Surge in User Growth
Etsy, Inc. (NASDAQ:ETSY) is one of the best consumer cyclical stocks to buy. On June 17, Truist Securities maintained its Buy rating on Etsy, Inc. (NASDAQ:ETSY), but increased its price target to $60 from $ price target rise follows after Truist Card Data revealed that Etsy's Marketplace revenue quarter-to-date through June 11 is exceeding forecasts. Truist also observed a surge in the number of monthly active users, which increased year-over-year and reached its highest level in 22 months. This indicates that the company's growth activities are having a favorable impact. Along with increased marketing effectiveness that has allowed Etsy, Inc. (NASDAQ:ETSY) to win more ad auctions, these efforts also include improvements in product quality, particularly discoverability and quality score. Etsy, Inc. (NASDAQ:ETSY) operates two-sided online marketplaces that link millions of creative customers and sellers globally. The company manages Reverb, Depop, and Elo7 in addition to its main marketplace, Etsy, which specializes in unique and creative products. While we acknowledge the potential of ETSY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None.
Yahoo
3 days ago
- Business
- Yahoo
Truist Lifts Etsy Price Target Amid Surge in User Growth
Etsy, Inc. (NASDAQ:ETSY) is one of the best consumer cyclical stocks to buy. On June 17, Truist Securities maintained its Buy rating on Etsy, Inc. (NASDAQ:ETSY), but increased its price target to $60 from $ price target rise follows after Truist Card Data revealed that Etsy's Marketplace revenue quarter-to-date through June 11 is exceeding forecasts. Truist also observed a surge in the number of monthly active users, which increased year-over-year and reached its highest level in 22 months. This indicates that the company's growth activities are having a favorable impact. Along with increased marketing effectiveness that has allowed Etsy, Inc. (NASDAQ:ETSY) to win more ad auctions, these efforts also include improvements in product quality, particularly discoverability and quality score. Etsy, Inc. (NASDAQ:ETSY) operates two-sided online marketplaces that link millions of creative customers and sellers globally. The company manages Reverb, Depop, and Elo7 in addition to its main marketplace, Etsy, which specializes in unique and creative products. While we acknowledge the potential of ETSY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. Read More: and Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
04-06-2025
- Business
- Yahoo
Lost since 1985, Gibson kicks off hunt for missing 'Back to the Future' guitar
Marty McFly's rendition of 'Johnny B. Goode' at the Enchantment Under the Sea Dance in "Back to the Future" is one of the most memorable scenes from the 1980s. But despite how unforgettable the image of Michael J. Fox rocking out on a Gibson ES-345 is, the whereabouts of the actual guitar are a mystery. And the cast from the film is asking for your help finding it. Advertisement In a video posted by Gibson Tuesday, Fox, Lea Thompson (Lorraine), Christopher Lloyd (Doc Brown) and other members of the team behind the 1985 film are enlisting the public to track down the prop guitar, which they say has not been seen since 1985. 'It's somewhere lost in the space-time continuum,' says Fox. 'Or it's in some Teamster's garage.' The guitar originally hailed from Norman's Rare Guitars, a shop in Los Angeles known for its vast selection of vintage guitars. Norman Harris, the shop's owner, told Reverb in 2015 he received a call from the Warner Bros. Prop department in 1984 asking for a guitar that looked futuristic. Advertisement After originally renting the film a Gibson ES-5 Switchmaster, the art director came back to Harris asking for another option in red with a whammy. Though it wouldn't be era-correct for 1955, Harris eventually presented them with the ES-345 (which would not be available until 1958). When production was ramping up for the sequel, Harris told Reverb he received a call from the studio asking to use the same guitar once again. The problem was he didn't remember what happened to it. Gibson is producing a documentary about the search for the guitar as the film turns 40, titled 'Lost to the Future.' 'We've been looking into leads and rumors for a long time, and as you can imagine, we're talking 40 years ago, so memories fade,' Lost to the Future director Doc Crotzer told The Hollywood Reporter. 'We weren't in the era of digital trails, or of receipts and things like that. There are conflicting reports too. You can find about as many different rumors as you can people.' Advertisement Harris apparently has told a few different stories over the years explaining the possible whereabouts of the guitar, including one which claims he sold it to a friend, who sold it to a woman who eventually returned to the store and asked for $1 million to sell it back. It may seem like an unthinkable travesty for such an iconic piece of movie history to be lost, but it was only recently that studios recognized the value of their props from major films. Today, studios keep detailed inventory tracking systems and work with auction houses such as Propstore and Julien's to sell items shortly after the release of the film to recoup costs. The filmmakers are encouraging anyone with knowledge of the whereabouts of the guitar to visit the website and contact them with tips. Will Stern is a reporter and editor for cllct, the premier company for collectible culture.
Yahoo
08-05-2025
- Business
- Yahoo
Huber Heights: Projects near Rose still a go despite lack of movement
May 8—The area around Rose Music Center on Executive Boulevard in Huber Heights has long been a main focus for ongoing development in the city. In the past three years, at least six major projects have been proposed for the section of Executive Boulevard that spans from the intersection of Brandt Pike west toward the industrial-commercial district just northeast of I-70. Two of these projects have come to fruition: A Sheetz gas station opened last summer on the corner of Brandt and Executive, and a new Warped Wing restaurant/brewery location a year prior, just west of the Rose. But while plans for two large housing developments were announced in 2022 and 2023, respectively, these projects have yet to break ground. The city in 2022 approved a proposal by Horizon Line Development to rezone 43 acres of vacant land, located at 7125 Executive Blvd., north of TJ Chump's, from planned employment park to planned mixed use. Since then, the project has been handed off to multiple subsequent developers and is now being lead by Pride One. The city expects Pride One to submit its final development plans for approval in July. City Planner Aaron Sorrell, who also serves as assistant city manager, said the project will involve two phases and will see the construction of over 300 new housing units and 11,000 square feet of retail space. In 2023, the city entered into a development agreement with Metropolitan Holdings for a project to construct a 312-unit apartment complex, to be called Reverb, on 25 acres west of the Pride One site. As part of this agreement, the city also received four acres of the parcel for redevelopment. "Once construction starts for Reverb, we plan to step up our marketing of that property," Sorrell said. "We're looking for more of a restaurant-type use, but (nothing's concrete)." Groundbreaking for Reverb is set for late June, Sorrell noted. Last August, Mayor Jeff Gore announced early plans for an indoor music venue and Dublin Pub location to be developed on Executive Boulevard. Sorrell said this week the city is completing "due diligence" for the music venue along with partner Music and Event Management Inc. (MEMI), and finalizing a contract agreement for the pub project. Gore said Monday a more detailed update about the various Executive Boulevard projects will be shared during his "State of the City" address on Monday, June 9.
Yahoo
05-05-2025
- Business
- Yahoo
Can Anything Save Etsy?
Etsy's struggles continued in Q1 as gross merchandise sales declined. The e-commerce platform said it would sell Reverb for a loss. Etsy's chances at a turnaround appear to be narrowing. Etsy (NASDAQ: ETSY) might have a long history of delighting shoppers with its handmade or vintage items, but investors have experienced nothing but disappointment lately. The stock boomed during the pandemic as the stay-at-home effect fueled interest and demand for its products, but like a number of e-commerce companies, it has struggled to gain traction since then, and sales on the platform have steadily fallen. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » While the excuse of a post-pandemic hangover may have worked in 2022 and even 2023 as consumer spending reverted to other categories, by now it's clear that there are other challenges plaguing the craft-oriented online marketplace. As the chart below shows, Etsy stock continues to plumb new depths with shares sliding following another disappointing earnings report on Wednesday. As you can see, the stock has steadily fallen over the last 18 months, showing investors seems to be gradually giving up on it. Etsy's first-quarter earnings report did little to alter that narrative. Gross merchandise sales (GMS), or the total value of goods sold on the platform, fell 6.5% to $2.8 billion, continuing a streak of declining business, and overall active sellers and active buyers both fell, with sellers down 11.3% to 8.1 million. Active sellers on the Etsy marketplace (which doesn't include its other platforms) dropped 23% from 7 million to 5.4 million. Additionally, Etsy announced that it was selling the musical instrument marketplace Reverb, which it acquired in 2019, taking an impairment charge of $101.7 million, essentially meaning it sold the company for $101.7 million less than it had bought it for. After the latest report, investors must be wondering if there's anything that can turn around Etsy's fortunes. Let's look at what's gone wrong for the company in the last few years before addressing its turnaround prospects. Etsy's purchase of Reverb in 2019 began what the company called its "House of Brands" strategy, in which it aimed to acquire sub-brands for its e-commerce marketplace and fold them into its portfolio, applying the same strategies that had worked for the Etsy marketplace. At its peak, Etsy had three sub-brands in its portfolio: Reverb, Depop, and Elo7. With the sale of Reverb, it will be left with just Depop. It took a loss on the sale of both Reverb and Elo7, a Brazilian online marketplace similar to Etsy that it sold in 2023 after acquiring it in 2021. The company also took a $1 billion impairment on the value of Depop and Elo7 in 2022, though the write-off was primarily for Depop, which is mostly a vintage fashion resale marketplace with an Instagram-like interface where shoppers can follow sellers. Depop, at least, is growing rapidly now, with GMS up 32% in 2024 and growth of around 60% in the U.S. However, it's clear the acquisition strategy has been a failure. Not only has the company taken an accounting loss on all three of the brands it acquired, but those moves have also distracted from the core business, which has clearly underperformed management and investor expectations. There's no question about it. Sellers are fleeing Etsy's platform, as the 23% decline over the last year indicates. A marketplace like Etsy isn't much without its seller base; unlike Amazon, it doesn't sell any first-party products. There's no single reason for the decline in sellers on Etsy, but probably the biggest, along with the overall growth challenges in the business, is the increase in seller fees. Etsy's take rate, essentially the percentage of revenue divided by GMS, has crept up over the years, clocking in at 23.3% in Q1 2025. That compares to 21.6% in Q1 2024 and 17.8% in 2022, meaning the take rate has increased 31% in three years. Management would likely defend those increases by saying it's invested more in the platform and technology, but fees on sellers have clearly gone up, and there hasn't been a related increase in sales, as the decline in GMS shows. There's also concern that the brand has been diluted by non-handmade goods, such as products made in China and conventional products with a logo attached. For a platform like Etsy, there's natural tension between staying true to the brand promise of artisan-made goods and expanding the marketplace to new products, but whether management intended this or not, the brand appears to have been compromised and diluted. On Etsy's earnings call, the company touted now-familiar key performance metrics in areas like app usage and advertising, but those gloss over the structural problems in the business. Management needs to reckon with those problems first rather than trying to highlight whatever silver lining it thinks is buried in the numbers. In order for the stock to recover, the company will have to return to GMS growth, which likely means growing active sellers as well. With its low valuation, Etsy looks ripe for activist investors, and activists did drive a surge in the stock in 2017 after bringing in new leadership, cutting costs, and refocusing the business. Activist investor Elliott Management took a stake last year and now owns 13% of the company, but it has been unable to effect real change. An acquisition is another possibility. The company could end up in the hands of a buyer like Shopify or Target, or possibly a private equity firm. Etsy is a unique property in e-commerce, and its valuation would give it upside in a turnaround. However, management's execution has been poor since the pandemic, and it seems to be unwilling to face the core problems in the business. If nothing changes, Etsy stock will continue to head lower, as boosting the take rate is not a long-term fix for declining GMS. The company needs a change in management, a strategic partner -- if not a full-on acquisition -- or a similar wholesale change. As the brand loses relevance, the time left for a recovery is running out. Before you buy stock in Etsy, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Etsy wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $623,685!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $701,781!* Now, it's worth noting Stock Advisor's total average return is 906% — a market-crushing outperformance compared to 164% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of April 28, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Jeremy Bowman has positions in Amazon, Shopify, and Target. The Motley Fool has positions in and recommends Amazon, Etsy, Shopify, and Target. The Motley Fool has a disclosure policy. Can Anything Save Etsy? was originally published by The Motley Fool
