Wolfe Research lowered the firm’s price target on Etsy to $76 from $100 and keeps an Outperform rating on the shares. The company’s Q3 came above Street estimates but the Q4 guide was below on both gross merchandise sales and margin, the analyst tells investors in a research note. The firm says softness in discretionary categories continues to weigh on GMS growth, while Etsy aims to optimize between growth and margins.
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