Etsy, Inc. ( NYSE: ETSY) shares moved lower in Thursday’s session as financiers absorbed the business’s third-quarter incomes report.
2 experts had a brighter outlook for the e-commerce merchant and raised rate targets on Etsy shares. Here’s a take a look at a few of their professional concepts on the stock.
Professional Concepts
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Canaccord Genuity expert Maria Ripps kept in mind that although the business’s market GMS was down 2% year-over-year, GMS development at Depop sped up to almost 40%. She likewise highlighted that brand-new maker finding out designs in the app discovery feed drove double-digit engagement gains.
- Canaccord Genuity kept a Buy ranking on Etsy shares and raised its rate target from $76 to $80.
Needham expert Bernie McTernan kept in mind that the OpenAI collaboration positions Etsy as an early leader in agentic commerce. The ChatGPT combination allows direct platform purchase through instantaneous checkout, benefiting both conversion rates and brand name exposure.
McTernan likewise indicated GMS contraction diminishing faster than expected, with Q3 GMS down 2.4% year-over-year versus -4.8% in Q2, helped by more powerful app engagement and purchaser reactivation.
The expert sees space for additional advantage if macro patterns end up being helpful or if Etsy’s distinct development efforts provide incremental purchaser or seller uptake.
Nevertheless, threats stay from heightened competitors (particularly from Chinese e-commerce gamers) and continued macroeconomic headwinds.
- Needham & & Co. repeated its Buy ranking on Etsy and raised the rate target from $72 to $76.
Rate Action: According to information from Benzinga Pro, Etsy shares were down % at $ heading into Thursday’s closing bell.
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