Etsy upgraded to Overweight from Neutral at Piper Sandler

Piper Sandler analyst Edward Yruma upgraded Etsy to Overweight from Neutral with a price target of $140, up from $135. The company should see a reacceleration of active buyer growth over the medium term, which can support continued share gains, the analyst tells investors in a research note. The firm says that while macro environment "remains choppy," Etsy’s EBITDA margin and long-term growth opportunities place it among the highest quality names in its coverage. It views the stock’s valuation as "compelling" at current levels.