Etsy price target lowered to $46 from $54 at UBS

UBS analyst Chris Kuntarich lowered the firm’s price target on Etsy (ETSY) to $46 from $54 and keeps a Neutral rating on the shares. The firm’s estimates no longer reflect an acceleration in year over year Gross Merchandise Sales growth through fiscal 2025, and expects Etsy to use the Q1 call to temper expectations around its prior remarks, the analyst tells investors in a research note. While UBS likes the signs of progress on the app, negative estimate revision and macro risks are too large to ignore into the print, the firm says.