On August 25, Etsy rose 5.01% in regular trading, trading at $84.96/share, with turnover of $95.36 million.
The movement was driven by a wave of analyst upgrades. BofA Securities upgraded Etsy from neutral to buy, raising its price target from $88 to a street-high $105, citing structural rather than transient growth under CEO Kruti Patel Goyal. BofA highlighted inflection in average order value, mobile app gains enriching buyer profiles, and over $1 billion in proceeds from the pending Depop sale as an EPS tailwind. Rosenblatt Securities also initiated coverage with a buy rating on the same day.
These upgrades follow Etsy's strong Q2 results, with revenue of $668.3 million beating the $646.1 million consensus, EPS from continuing operations of $0.98 versus $0.39 a year earlier, a $2 billion share repurchase authorization, and a 12% workforce reduction targeting margin improvement. Wedbush noted improved marketing efficiency through richer listing data shared with Google, while Morgan Stanley acknowledged the strongest core GMS growth since 2021.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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