Etsy price target lowered to $40 from $45 at Loop Capital

Loop Capital analyst Laura Champine lowered the firm’s price target on Etsy (ETSY) to $40 from $45 and keeps a Sell rating on the shares after its Q4 results. The company’s Gross Merchandise Sales are still declining without any visibility into a reversal, the analyst tells investors in a research note. Etsy’s new CFO, Lanny Baker, also has much less ecommerce experience than prior CFO Rachel Glaser, the firm adds.