BofA Securities analyst Curtis Nagle maintains $Etsy Inc (ETSY.US)$ with a hold rating, and adjusts the target price from $61 to $58.
According to TipRanks data, the analyst has a success rate of 47.7% and a total average return of -2.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Etsy Inc (ETSY.US)$'s main analysts recently are as follows:
Anticipating Etsy's financial report on October 30, expectations have been moderated due to softer demand observed into October. Projections for Q3 Gross Merchandise Sales, revenue, and EBITDA have been slightly adjusted, indicating a modest decline.
While Etsy has encountered the same macroeconomic headwinds affecting consumer spending on goods, its enhancements in search and discovery capabilities position it favorably for growth based on the consumer wallet share increases experienced since the pandemic. The analyst believes Etsy is poised to capitalize on machine learning and its marketplace scale for further improvement.
Note:
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