Etsy price target lowered to $85 from $90 at Wedbush

Wedbush lowered the firm’s price target on Etsy to $85 from $90 and keeps an Outperform rating on the shares. While the firm expects mostly in line Q4 results to be reported on Wednesday, February 21, it sees a mixed outlook for 2024 with continued near-term macro and competitive pressures offsetting additional potential efficiency and capital return initiatives with the recent involvement of activist fund Elliott Management. Weighing these factors, Wedbush currently sees limited upside potential for Etsy’s shares.