10/10/24 - $etsy - Probs a buy ~$50, small 1%10/10/24 :: VROCKSTAR :: NASDAQ:ETSY
Probs a buy ~$50, small 1%
- 700 fcf on 7 bn enterprise value = 10% yield
- but really call it 300 of that is stock comp (and stonk down), so perhaps you're at 6-7% "true" yield
- #s depressed and it's not growing all that fast - which is why it's been something i've stayed away for (growth is the scarcity... hence NASDAQ:CELH , NASDAQ:NXT , NASDAQ:NVDA and other meme stuff)
- but at this pt $50 seems like a pretty good smaller size entry for a 1% punt
- don't love the fact they have 2bn debt and 1bn cash
- but think the platform isn't going anywhere. still growing.
- anyone have a more nuanced view? i'm not wed to the idea, but a small position here will force me to do more work.
V