Etsy price target lowered to $85 from $87 at Truist

Truist lowered the firm’s price target on Etsy to $85 from $87 but keeps a Buy rating on the shares. The company’s Q4 results were “slighlty better” while its Q1 guide was “muted”, with gross merchandise sales expected to decline due to soft January and a tough macro weighing on consumer discretionary spending, the analyst tells investors in a research note. The positive trends for both buyers and sellers at Etsy show that the underlying health of the marketplace remains robust despite the macro, the firm added.