Etsy price target lowered to $55 from $59 at BofA

BofA lowered the firm’s price target on Etsy (ETSY) to $55 from $59 and keeps a Neutral rating on the shares after Q4 revenue missed Street consensus and management guided Q1 GMS inline with Q4 at down 7% year-over-year, which was “significantly softer” than the Street’s projection for a 1% decline. The firm has lowered its Q1 revenue and EBITDA forecasts by 4% and 8%, respectively, and its FY25 forecasts by 2% and 4%, the analyst noted.