Josh Silverman, CEO of Etsy.
Adam Jeffery | CNBC
Over the first three weeks in March, Etsy lost half its value on concern that an economic slowdown caused by the coronavirus would batter consumer sales. Then people started turning to the site to buy masks, and Etsy took off.
Since bottoming on March 20, Etsy’s stock price has more than tripled. The shares jumped 5.1% on Tuesday to a record $101.22, after RBC Capital Markets raised its price target to $117 from $79 and Goldman Sachs increased its target to $120 from $88.
RBC wrote in a report that it conducted a survey of buyers, and 82% of respondents said they expect to spend more on Etsy over the next 12 months. Goldman said its…