Etsy Double-downgraded by Jeffries

  • last year
Etsy ($ETSY@US) was double-downgraded by Jeffries on Thursday to underperform from buy. The investment bank. The investment firm challenged Etsy’s valuation in comparison to other companies in its industry. Analysts at Jeffries warned that the e-commerce company’s high marketing costs to maintain customers are putting pressure on its earnings. Etsy shares fell more than 6 percent in premarket trading.