Bernstein raised the firm’s price target on Etsy (ETSY) to $50 from $45 and keeps a Market Perform rating on the shares. The firm says GMS and app engagement trends look to have improved in Q2, the first time in a while. Comparable sales get easier in the second half of 2025, with a moderating decline in GMS good enough for the stock at current expectations, Bernstein notes. That said, the durability of this trend remains in question, particularly if seeing PDD‘s (PDD) Temu re-accelerate its U.S. advertising efforts again.
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