Truist analyst Youssef Squali lowered the firm’s price target on Etsy (ETSY) to $62 from $67 and keeps a Buy rating on the shares. The company’s Q4 results and Q1 outlook were shy of expectations on Gross Merchandise Sales and revenue, reflecting softer demand for discretionary products, but a higher take rate fueled by greater ads/payments penetration, and renewed emphasis on near-term conversion improvements in Q1 set the business up for gradual recovery in growth and margins throughout the year, the analyst tells investors in a research note.
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Read More on ETSY:
- Etsy price target lowered to $44 from $45 at Morgan Stanley
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