Form 8-K ETSY INC For: May 01
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Etsy (ETSY) PT Lowered to $78 at BTIG
May 2, 2024 6:25 AM EDTBTIG analyst Marvin Fong lowered the price target on Etsy (NASDAQ: ETSY) to $78.00 (from $87.00) while maintaining a Buy rating.
The analyst comments "ETSY continues to suffer from softness in discretionary spending as consolidated GMS declined by 3.7%. Etsy marketplace GMS fell 5.3% (5.6% in constant FX). Recall ETSY guided to a LSD decline in 1Q24, although a MSD decline was possible if growth initiatives didn't pan out. March underperformed management's expectations, in part due to a larger-than-expected Easter/Spring Break effect, which detracted from 1Q but was made up for in April. However, there was additional... More
Etsy (ETSY) PT Lowered to $60 at Deutsche Bank
May 2, 2024 6:15 AM EDTDeutsche Bank analyst Leo Horowitz lowered the price target on Etsy (NASDAQ: ETSY) to $60.00 (from $65.00) while maintaining a Hold rating.
The analyst comments "Set against fairly tepid expectations, Etsy reported a 1Q GMS miss, with a 2Q outlook that will continue to call into question the... More
Etsy (ETSY) PT Lowered to $62 at Citi
May 2, 2024 6:00 AM EDTCiti analyst Nicholas Jones lowered the price target on Etsy (NASDAQ: ETSY) to $62.00 (from $72.00) while maintaining a Neutral rating.
The analyst comments "Etsy reported 1Q24 results/2Q24 guidance both below expectations, particularly on GMS. Last quarter management expected 1Q to be the... More
Etsy (ETSY) PT Lowered to $80 at Evercore ISI
May 2, 2024 5:16 AM EDTEvercore ISI analyst Mark Mahaney lowered the price target on Etsy (NASDAQ: ETSY) to $80.00 (from $90.00) while maintaining a Outperform rating.
The analyst comments "In the wake of In-Line & Lower Q1 EPS results, we are trimming ETSY PT to $80, but patiently sticking with our Outperform. Here are the numbers: Revenue of $646MM and EBITDA of $168MM largely in-line with ISI/Street (with 26.0% EBITDA Margin right on the dot with guidance), GMS of $3.0B was -1% below the... More
