Etsy price target lowered to $95 from $126 at Truist

Truist analyst Youssef Squali lowered the firm’s price target on Etsy to $95 from $126 but keeps a Buy rating on the shares. The company’s Q3 results and Q4 guide could come in lower, based on the Truist Card data, the analyst tells investors in a research note. The firm adds however that Etsy’s fundamentals are improving with positive active buyer net adds and stabilizing AOV, showing that Etsy is retaining most of the gains achieved during COVID, and positioning it well for when the macro normalizes.