Etsy price target lowered to $100 from $105 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Etsy to $100 from $105 and keeps a Hold rating on the shares. The analyst is updating the firm’s model with more conservative margin assumptions, stating the “top tech talent remains expensive and necessary” and that this is driving its product development cost assumptions. The firm also believes that competition will eventually mute margin expansion for major ecommerce platforms.