Etsy price target lowered to $37 from $40 at Loop Capital

Loop Capital lowered the firm’s price target on Etsy (ETSY) to $37 from $40 and keeps a Sell rating on the shares. The company’s GMS – gross merchandise sales – are still declining without enough visibility into a reversal, and while the company is insulated from tariffs to some extent, if tariff-related inflation causes a recession, it will be tough for GMS to recover at Etsy, the analyst tells investors in a research note.