Etsy price target lowered to $90 from $95 at Evercore ISI

Evercore ISI lowered the firm’s price target on Etsy to $90 from $95 and keeps an Outperform rating on the shares. Etsy beat “almost across the board,” but Q1 and FY24 guidance disappointed, the analyst says. However, the firm questions: “Does the guide create a clearing event? Will Street estimates be low enough to keep from further downward revisions?” Evercore is “hopeful” on that count and remains “optimistic with a mid-to-long term view,” the analyst tells investors.