Etsy (ETSY) PT Raised to $42 at RBC Capital on Pricing Model Changes
RBC Capital analyst Mark Mahaney raised his price target on Etsy (NASDAQ: ETSY) to $42.00 (from $30.00) while maintaining a Sector Perform rating.
Mahaney said the pricing model changes imply greater confidence in fundamentals. Changes include: 1) an increase in transaction fees to 5% (up from 3.5% prior); 2) applying transaction fee to shipping costs; and 3) introduction of monthly subscription plans effective July 16, 2018 and new enhanced tools for sellers.