Goldman Sachs analyst Alexandra Steiger lowered the firm’s price target on Etsy to $110 from $130 and keeps a Buy rating on the shares. Heading into the Q2 earnings season, the analyst maintains a cautious stance on the e-commerce sector, saying industry work and company commentary continue to point to ongoing volatility, especially for platforms that are less scaled and for those exposed to more discretionary categories. This contrasts with the more stable trends observed across the other consumer-facing internet subsectors, the analyst tells investors in a research note. The firm continues to highlight Amazon.com (AMZN) as its top pick in the sector.
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