Oppenheimer lowered the firm’s price target on Etsy to $135 from $150 and keeps an Outperform rating on the shares as headwinds slowly abating. The firm notes the company guided Q3 GMS +1% year-over-year, 1st quarter of year-over-year growth since Q1 2022, but 2% below Street estimates. Q2 GMS/revenue modesty ahead, but likely below 3P credit card data, 1%/2% above Street estimates, Oppenheimer adds.
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