Needham analyst Bernie McTernan has reiterated their bullish stance on ETSY stock, giving a Buy rating yesterday.
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Bernie McTernan has given his Buy rating due to a combination of factors including Etsy’s recent financial performance and future growth prospects. Despite Etsy’s gross merchandise sales (GMS) not meeting expectations, the company reported stronger than anticipated adjusted EBITDA for the fourth quarter, which is a positive indicator of its operational efficiency and financial health.
McTernan suggests that while the timeline for GMS growth has been extended to 2026, this adjustment creates a more achievable target moving forward. The revised outlook reflects a conservative approach, allowing Etsy to focus on near-term growth strategies that are expected to eventually enhance its market position and financial outcomes.
In another report released yesterday, BTIG also maintained a Buy rating on the stock with a $60.00 price target.