Etsy price target lowered to $80 from $95 at Guggenheim

Guggenheim analyst Steven Forbes lowered the firm’s price target on Etsy to $80 from $95 and keeps a Buy rating on the shares. The firm believes Etsy’s Q1 results continue to support the view that 2024 is “a year of directional top-line improvement,” the analyst tells investors. Following the report, the firm is “essentially reiterating our adjusted EBITDA estimates,” but lowering its price target as it continues to await the eventual return of GMS growth.