Oppenheimer lowered the firm’s price target on Etsy to $80 from $95 and keeps an Outperform rating on the shares. Ahead of earnings, the firm is conservatively lowering estimates to assume two-year GMS growth rates of -3%, -2%, -1%, 0% as there is no indication of momentum in key categories or Etsy traffic data. While broader e-commerce remains strong, Etsy categories remain weak, Oppenheimer says.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ETSY:
- Options Volatility and Implied Earnings Moves This Week, April 29 – May 02, 2024
- Etsy price target lowered to $70 from $80 at Wedbush
- Buy/Sell: Wall Street’s top 10 stock calls this week
- Morgan Stanley Analyst’s Contrarian Calls: eBay Upgraded, Etsy Downgraded
- Tesla downgraded, eBay upgraded: Wall Street’s top analyst calls