Etsy price target raised by $30 at Wedbush, here’s why

Wedbush raised the firm’s price target on Etsy to $90 from $60 and keeps a Neutral rating on the shares after the company updated its Q4 guidance with new targets pointing to better-than-expected GMS, revenue and EBITDA performance for the quarter. However, an accompanying workforce reduction announcement suggests the company is planning for only limited topline improvement in 2024, the firm adds.