← Etsy overview

Etsy vs eBay: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Etsy, Inc. (ETSY)

Q3 2026
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Etsy Q3 2026: Growth Returns, AI Partnerships Boost Outlook

  • Core Marketplace Acceleration and Buyer Growth Etsy's core marketplace sales accelerated, and active buyers grew for the first time in two years. Management raised its full-year outlook, signaling confidence in sustained momentum.

    This is the fundamental driver of the quarter, showing a turnaround in key metrics.

  • AI Partnerships and Higher Conversion Etsy partnered with OpenAI, Microsoft, and Google to integrate AI agents. Shoppers referred by AI converted at double the rate, supporting demand and showcasing Etsy's adaptability.

    This new initiative directly contributed to demand growth and differentiates Etsy.

  • Depop Sale, Buyback, and Analyst Upgrade Etsy completed the Depop sale, authorized a $2 billion buyback, beat Q2 estimates, and received a BofA upgrade. These actions reflect improved capital allocation and financial health.

    These capital moves and analyst recognition are key positive developments for investors.

  • AI Disintermediation and Restructuring Costs AI disintermediation could let chatbots bypass Etsy, hurting ad revenue and user relationships. Etsy also cut 12% of jobs, took $35 million in restructuring costs, and recorded a $161 million Depop-related loss.

    These risks and costs are significant counterweights to the positive developments.

September 2026
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Etsy beats, buys back, but AI disintermediation fears weigh

  • AI shopping drives higher-intent leads AI-referred shoppers convert at double the rate, and Etsy keeps checkout and seller access. This supports demand and could lift sales, but if chatbots replace browsing, Etsy's ad revenue may suffer.

    Shows a new demand tailwind from AI, directly affecting Etsy's growth prospects.

  • BofA upgrade lifts sentiment BofA upgraded Etsy to Buy and raised its price target to $105 from $88, citing improved outlook. Analyst upgrades often boost stock prices by attracting buyers.

    A new analyst action that directly influences investor perception and price.

  • Strong Q2 results and $2B buyback Etsy beat revenue and earnings estimates, raised full-year outlook, and announced a $2 billion buyback. This signals confidence and returns cash to shareholders, supporting the stock.

    New financial results and capital return plan that are key drivers for the stock.

  • Meta Muse AI sparks disintermediation fears Etsy shares fell on worries that Meta's new AI agent could bypass marketplaces, threatening Etsy's direct user relationships. This competitive risk pressures the stock.

    A new competitive threat that directly caused a price drop and affects future prospects.

Latest
▲3▼1

Etsy beats, buys back, but AI disintermediation fears weigh

  • AI shopping drives higher-intent leads AI-referred shoppers convert at double the rate, and Etsy keeps checkout and seller access. This supports demand and could lift sales, but if chatbots replace browsing, Etsy's ad revenue may suffer.

    Shows a new demand tailwind from AI, directly affecting Etsy's growth prospects.

  • BofA upgrade lifts sentiment BofA upgraded Etsy to Buy and raised its price target to $105 from $88, citing improved outlook. Analyst upgrades often boost stock prices by attracting buyers.

    A new analyst action that directly influences investor perception and price.

  • Strong Q2 results and $2B buyback Etsy beat revenue and earnings estimates, raised full-year outlook, and announced a $2 billion buyback. This signals confidence and returns cash to shareholders, supporting the stock.

    New financial results and capital return plan that are key drivers for the stock.

  • Meta Muse AI sparks disintermediation fears Etsy shares fell on worries that Meta's new AI agent could bypass marketplaces, threatening Etsy's direct user relationships. This competitive risk pressures the stock.

    A new competitive threat that directly caused a price drop and affects future prospects.

July 2026
▲3

Etsy's core marketplace accelerates, AI push and buybacks lift outlook

  • Marketplace growth accelerates Etsy's core marketplace sales rose 5.5% in Q1 and 7.5% in Q2, with active buyers growing for the first time in two years. Management now expects mid-single-digit growth for the full year, up from low-single digits. This improving demand is the main reason the stock is moving up.

    Shows the core business is reaccelerating, the biggest driver of the stock.

  • AI agent partnerships with OpenAI, Microsoft, Google Etsy is embedding conversational AI agents into buyer discovery and seller tools through deals with OpenAI, Microsoft, and Google. If it converts high-intent shoppers, it could reverse sales declines and justify marketing spend. The stock jumped 5.9% on the news, though the payoff is still uncertain.

    New technology catalyst that could reshape how buyers find items on Etsy.

  • Depop sale completed, $2B buyback authorized Etsy completed the sale of Depop to eBay for about $1.4 billion and will use the cash to accelerate share repurchases. The board also approved a new $2 billion buyback. Fewer shares outstanding can lift earnings per share, supporting the stock price.

    Capital return from the divestiture directly boosts per-share value.

  • 12% workforce cut and Q2 earnings beat Etsy is cutting 12% of jobs (about 220 roles) to restructure for growth, costing $35 million. At the same time, Q2 revenue rose 6.2% to $668 million and profit beat estimates, though a $161 million loss from the Depop sale caused a net loss. The market weighed the beat and buyback against the charges.

    Restructuring is a major new event with both cost and growth implications.

▲3

Etsy's core marketplace accelerates, AI push and buybacks lift outlook

  • Marketplace growth accelerates Etsy's core marketplace sales rose 5.5% in Q1 and 7.5% in Q2, with active buyers growing for the first time in two years. Management now expects mid-single-digit growth for the full year, up from low-single digits. This improving demand is the main reason the stock is moving up.

    Shows the core business is reaccelerating, the biggest driver of the stock.

  • AI agent partnerships with OpenAI, Microsoft, Google Etsy is embedding conversational AI agents into buyer discovery and seller tools through deals with OpenAI, Microsoft, and Google. If it converts high-intent shoppers, it could reverse sales declines and justify marketing spend. The stock jumped 5.9% on the news, though the payoff is still uncertain.

    New technology catalyst that could reshape how buyers find items on Etsy.

  • Depop sale completed, $2B buyback authorized Etsy completed the sale of Depop to eBay for about $1.4 billion and will use the cash to accelerate share repurchases. The board also approved a new $2 billion buyback. Fewer shares outstanding can lift earnings per share, supporting the stock price.

    Capital return from the divestiture directly boosts per-share value.

  • 12% workforce cut and Q2 earnings beat Etsy is cutting 12% of jobs (about 220 roles) to restructure for growth, costing $35 million. At the same time, Q2 revenue rose 6.2% to $668 million and profit beat estimates, though a $161 million loss from the Depop sale caused a net loss. The market weighed the beat and buyback against the charges.

    Restructuring is a major new event with both cost and growth implications.

eBay Inc (EBAY)

Q3 2026
▲3▼1

eBay's UK fee-free bet and GameStop stake drove a 52% surge

  • UK fee-free experiment sparks 52% stock surge eBay's UK experiment to drop selling fees drove a 52% stock surge, showing investors that fee cuts can boost buyer and seller activity and revive growth.

    This was the single biggest positive price driver in the quarter.

  • Q2 revenue up 15%, net income up 51% eBay reported Q2 revenue of $3.13B, up 15%, and net income up 51%, giving investors concrete evidence that the business was accelerating, not just cutting costs.

    Strong financial results directly supported the stock's rise.

  • GameStop's $4.9B stake and UK approval of Depop GameStop's roughly $4.9B, 43.4-million-share stake signaled outside confidence, while UK regulators cleared the $1.2B Depop acquisition, removing a key deal risk.

    Both events added confidence and removed uncertainty for investors.

  • GameStop bid uncertainty, Meta threat, downgrade, Icahn push GameStop's $125-per-share hostile bid created board uncertainty and could be withdrawn, Meta's Seller app threatens high-margin sellers, Wells Fargo downgraded eBay over Depop's 2027 earnings drag, and Carl Icahn is pushing for a PayPal spin-off and board seats.

    These risks capped gains and could erase the takeover premium.

August 2026
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GameStop's eBay stake grows, but takeover bid fades

  • GameStop may drop its $56B eBay bid GameStop CEO Ryan Cohen is considering withdrawing his $56 billion buyout offer for eBay, possibly seeking a partnership or joint venture instead. Without a takeover bid, eBay loses the buyout premium that had lifted its stock, so the shares could fall back toward where they traded before the offer.

    This is the key new event that removes the takeover premium supporting eBay's price.

  • eBay buys Etsy's Depop, expanding its marketplace eBay acquired Depop from Etsy, adding a popular secondhand fashion marketplace to its portfolio. This grows eBay's reach in resale and could boost long-term revenue and user growth, a positive for the stock even though the price paid wasn't disclosed.

    This is a new strategic acquisition that directly affects eBay's business and growth outlook.

  • GameStop's $4.9B eBay stake signals confidence GameStop disclosed it owns about 43.4 million eBay shares worth roughly $4.9 billion, making it eBay's second-largest shareholder. That large, committed stake shows strong outside belief in eBay's value and could support the stock by reducing the number of shares available to trade.

    This new disclosure highlights a major shareholder's confidence and potential support for eBay's stock.

  • Cohen buys more GameStop stock, not eBay Ryan Cohen spent $26.4 million buying more GameStop shares, raising his personal stake past 40 million shares. This suggests his focus is shifting back to GameStop rather than pursuing eBay, making it less likely he'll raise his eBay offer and weakening the takeover premium in eBay's stock.

    This new insider buying shows Cohen's priorities may be moving away from an eBay deal.

Latest
▲2▼2

GameStop's eBay stake grows, but takeover bid fades

  • GameStop may drop its $56B eBay bid GameStop CEO Ryan Cohen is considering withdrawing his $56 billion buyout offer for eBay, possibly seeking a partnership or joint venture instead. Without a takeover bid, eBay loses the buyout premium that had lifted its stock, so the shares could fall back toward where they traded before the offer.

    This is the key new event that removes the takeover premium supporting eBay's price.

  • eBay buys Etsy's Depop, expanding its marketplace eBay acquired Depop from Etsy, adding a popular secondhand fashion marketplace to its portfolio. This grows eBay's reach in resale and could boost long-term revenue and user growth, a positive for the stock even though the price paid wasn't disclosed.

    This is a new strategic acquisition that directly affects eBay's business and growth outlook.

  • GameStop's $4.9B eBay stake signals confidence GameStop disclosed it owns about 43.4 million eBay shares worth roughly $4.9 billion, making it eBay's second-largest shareholder. That large, committed stake shows strong outside belief in eBay's value and could support the stock by reducing the number of shares available to trade.

    This new disclosure highlights a major shareholder's confidence and potential support for eBay's stock.

  • Cohen buys more GameStop stock, not eBay Ryan Cohen spent $26.4 million buying more GameStop shares, raising his personal stake past 40 million shares. This suggests his focus is shifting back to GameStop rather than pursuing eBay, making it less likely he'll raise his eBay offer and weakening the takeover premium in eBay's stock.

    This new insider buying shows Cohen's priorities may be moving away from an eBay deal.

July 2026
▲2▼2

eBay's UK fee-free push and Depop win offset by GameStop, Meta threats

  • UK fee-free experiment drives 52% stock surge eBay's UK test of scrapping selling fees for casual sellers sent the stock up 52%, showing its consumer-to-consumer turnaround is working and boosting investor confidence.

    This is the biggest positive force behind eBay's price move in the period.

  • Q2 beat and UK clears Depop deal Q2 revenue rose 15% to $3.13B and net income jumped 51%, beating estimates, while UK regulators cleared the $1.2B Depop acquisition, supporting growth plans.

    Strong earnings and a cleared acquisition are key positive drivers for the stock.

  • GameStop stake and hostile bid create uncertainty GameStop built a roughly 10% stake and made a $125-per-share hostile bid, creating board uncertainty, though Wedbush doubts it succeeds. This weighs on the stock.

    This is a major new risk factor that pressured eBay's price during the period.

  • Meta Seller app and Icahn campaign add pressure Meta's new Seller app threatens eBay's high-margin professional sellers, Wells Fargo downgraded the stock on Depop's 2027 earnings drag, and Carl Icahn is pushing for a PayPal spin-off and board seats.

    These competitive and activist pressures are new negative forces on eBay's outlook.

▼3▲1

eBay's strong Q2 offset by Meta competition and activist pressure

  • Meta's Seller App Threatens eBay's Core Sellers Meta launched a Seller app for Facebook Marketplace, directly targeting eBay's professional sellers with lower fees and AI tools. This threatens eBay's high-margin seller base, pushing the stock down as investors worry about losing market share.

    This new competitive threat directly pressures eBay's core business and was a key driver of the stock's decline this period.

  • Wells Fargo Downgrade on Depop Costs Wells Fargo downgraded eBay to underweight, citing the Depop acquisition will weaken 2027 earnings and require higher marketing spend. This adds to concerns that defending against rivals like Vinted will hurt profits, weighing on the stock.

    The downgrade reflects real concerns about profitability and was a direct catalyst for the stock's drop.

  • Strong Q2 Results and Upbeat Q3 Guidance eBay reported 15% revenue growth to $3.13 billion and 51% higher net income, beating estimates. Q3 revenue guidance also topped expectations, driven by demand for luxury, collectibles, and refurbished goods. This shows the core business is healthy and growing.

    The strong financial performance and guidance are key positives that support the stock's value.

  • Carl Icahn's Activist Campaign Carl Icahn is demanding a PayPal spin-off and board seats, alleging conflicts of interest. This creates uncertainty about eBay's strategy and leadership, which could distract management and unsettle investors.

    Activist pressure introduces strategic uncertainty that can negatively impact investor sentiment.

▲2▼1

GameStop's eBay stake grows, but UK clears Depop and C2C strategy shines

  • GameStop's creeping stake and hostile bid GameStop now owns nearly 10% of eBay and is pushing a $125-per-share hostile bid. This creates uncertainty for eBay's board and shareholders, as a proxy fight or tender offer could disrupt management and distract from operations.

    This is the main source of uncertainty and potential downside for eBay's stock.

  • UK C2C experiment drives 52% stock surge eBay's UK experiment eliminating selling fees for casual sellers led to double-digit growth in consumer-to-consumer sales. This validates eBay's turnaround strategy and shows it can grow profitably, boosting investor confidence.

    This is a major positive catalyst that directly supports eBay's standalone growth story.

  • UK regulator clears $1.2B Depop acquisition The UK competition watchdog approved eBay's purchase of fashion resale platform Depop. This removes a regulatory hurdle and supports eBay's strategy to attract younger shoppers and strengthen its resale fashion business.

    This is a new positive development that advances eBay's growth strategy.

  • Analyst skeptical on GameStop bid, sees eBay reasonably valued Wedbush doubts GameStop's bid will succeed due to a financing gap, noting eBay trades below the offer price. The analyst views eBay as reasonably valued on its own but warns of downside if GameStop walks away.

    This provides a balanced view on the takeover situation and eBay's standalone value.

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