Etsy Inc

ETSY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Etsy: Abandoning House of Brands Strategy Tempers Our Moat Rating to Narrow; Shares Fairly Valued

Brett Husslein

Apr 21, 2026

Etsy is unwinding its pandemic-era strategy, marked by the 2025 sale of Reverb and the pending 2026 divestiture of Depop to eBay for $1.2 billion. Management contends this will enable it to refocus on the core artisan marketplace that connects roughly 87 million buyers with 6 million sellers.

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Etsy Inc

Etsy: Abandoning House of Brands Strategy Tempers Our Moat Rating to Narrow; Shares Fairly Valued

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