Etsy price target lowered to $45 from $50 at Loop Capital

Loop Capital lowered the firm’s price target on Etsy to $45 from $50 and keeps a Sell rating on the shares. The company’s gross merchandise sales is still declining without enough visibility into a reversal, the analyst tells investors in a research note. The firm is also cutting its FY25 adjusted EBITDA view to $808M from $816M, adding that with the company looking for a replacement for its seven-year CFO Rachel Glaser following her retirement announcement, the initial outlook for early 2025 is likely to “underwhelm” investors.