Etsy (ETSY) and eBay (EBAY) Merger Could Unlock Growth, Piper Sandler Analyzes

Mar 28, 2025

Piper Sandler analysts suggest a potential merger between Etsy (ETSY, Financial) and eBay (EBAY) could address growth challenges for Etsy by leveraging eBay's extensive buyer network and data capabilities. Combining eBay's 134 million active buyers with Etsy's platform could create a formidable competitor in the e-commerce space, approaching 60% of Amazon’s buyer base. While an immediate merger seems unlikely, an all-stock deal could value the united entity at $85 per share and enhance earnings by $0.78 per share by 2026. Etsy’s stock rose 1.4% in premarket trading, while eBay remained stable.

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