Etsy price target lowered to $53 from $55 at Barclays

Barclays lowered the firm’s price target on Etsy (ETSY) to $53 from $55 and keeps an Equal Weight rating on the shares. Etsy reported Q1 GMS declined about 6% year-over-year ex-forex, roughly inline with consensus, while Q2 guidance for similar declines on a reported basis were a bit below consensus expectations, the analyst tells investors. The firm says valuation “screens as attractive in absolute terms,” but it stays on the sidelines as the valuation is “a bit less attractive” in the context of the firm’s expectation for EBITDA declines this year and low-single-digit growth in 2026.