Barclays analyst Trevor Young lowered the firm’s price target on Etsy (ETSY) to $55 from $60 and keeps an Equal Weight rating on the shares. The company reported a gross merchandise sales miss but revenue and EBITDA ahead on better take rate expansion, the analyst tells investors in a research note. The firm says Etsy is making a lot of changes to clean up assortment, search and overall consumer experience, but that merchandise sales headwinds are likely to persist until discretionary demand firms up.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ETSY:
- Etsy price target lowered to $54 from $65 at Citi
- Etsy Reports Mixed Q3 2024 Results and Growth Plans
- Closing Bell Movers: Microsoft, Meta both down about 3% despite earnings beats
- Etsy reports Q3 EPS 45c, consensus 55c
- Etsy sees Q4 adjusted EBITDA margin 28-29%
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
