Etsy price target raised to $135 from $105 at Piper Sandler

Piper Sandler analyst Edward Yruma raised the firm’s price target on Etsy to $135 from $105 and keeps a Neutral rating on the shares following the Q4 results. The analyst thinks the company is navigating a more volatile consumer discretionary environment adeptly. Management "struck a bit of a cautious tone" on 2023 given consumer headwinds, but the strength of the marketplace and favorable secular trends should drive solid long-term growth, the analyst tells investors in a research note.