Etsy price target lowered to $90 from $126 at Piper Sandler

Piper Sandler lowered the firm’s price target on Etsy to $90 from $126 and keeps an Overweight rating on the shares. Etsy has some of the most compelling long-term opportunities in commerce, but spending conditions may be deteriorating for discretionary items, the firm says. Piper thinks Etsy trends could remain soft near-term. However, the firm remains confident in a medium-term take rate opportunity and a return to long-term growth.