Etsy Stock Is Headed to Its Lowest Level in 4 Years. What Wall Street Thinks About Earnings.
Etsy stock was on pace to have its worst day since 2020 after the e-commerce retailer posted lower-than-expected gross merchandise sales for the first quarter. GMS of $2.99 billion was below the FactSet consensus of $3.03 billion and lower than the $3.1 billion reported in the same period last year. The results have led to concerns among Wall Street analysts over what the current state of the consumer means for the company’s top-line.
