Etsy (ETSY)

Hold Recap: Q2 2026

Everything Went Right and the Stock Fell: Taking the Gain After a 71% Run

Outperform Recap: Q1 2026

The Flywheel Starts Turning: GMS Accelerates 540bp, Buyers Grow for the First Time in Two Years, and the Guide Goes Up

Outperform Recap: Q4 2025

Both Triggers Fired: The Core Turns Positive, Depop Goes to eBay for $1.2B, and the Margin Floor Comes Back

Hold Recap: Q3 2025

Beat the Guide, Shrank the Business: Etsy's Take-Rate Quarter, a Negotiable Margin Floor, and a New CEO