On Nov 01, major Wall Street analysts update their ratings for $Etsy Inc (ETSY.US)$, with price targets ranging from $44 to $65.
Morgan Stanley analyst Nathan Feather maintains with a sell rating, and adjusts the target price from $50 to $47.
Citi analyst Ygal Arounian maintains with a hold rating, and adjusts the target price from $65 to $54.
Barclays analyst Trevor Young maintains with a hold rating, and maintains the target price at $55.
Wells Fargo analyst Ken Gawrelski maintains with a sell rating, and adjusts the target price from $47 to $44.
Evercore analyst Jian Li maintains with a buy rating, and adjusts the target price from $80 to $65.
Furthermore, according to the comprehensive report, the opinions of $Etsy Inc (ETSY.US)$'s main analysts recently are as follows:
The company experienced a gross merchandise sales shortfall, however, it offset this with higher revenue and EBITDA as a result of improved take rates, according to an analyst. The efforts to enhance assortment, search, and the overall consumer experience are in progress, although it is anticipated that headwinds in merchandise sales will continue until there is a stabilization in discretionary demand.
Etsy's recent performance has been a blend of outcomes, with gross merchandise sales growth not meeting expectations, yet this was somewhat counterbalanced by improved take rates and margins. The company continues to face a difficult macro environment for consumer discretionary goods, further compounded by its lack of participation in significant discounting events that are appealing to consumers.
Etsy's Q3 Gross Merchandise Sales were below expectations; however, the outlook for Q4 was more favorable than anticipated. Initiatives in search and app enhancements are viewed as initial measures in a strategic realignment, yet further efforts are anticipated to be necessary to achieve renewed growth.
The company reported robust revenue and adjusted EBITDA figures, despite a somewhat weaker performance in Gross Merchandise Sales. The management cited several challenges faced during the quarter, including Hurricane Helene, significant sports events, elections in the UK and France, and the distraction caused by the U.S. election.
Here are the latest investment ratings and price targets for $Etsy Inc (ETSY.US)$ from 14 analysts:
Note:
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