Etsy price target lowered to $55 from $60 at Needham

Needham lowered the firm’s price target on Etsy (ETSY) to $55 from $60 but keeps a Buy rating on the shares after its Q1 results. Etsy is less exposed than others in the firm’s e-commerce coverage to tariffs, but they would likely not be immune from a secondary impact of a weaker consumer, creating significant uncertainty in estimates and therefore the stock, the analyst tells investors in a research note. Needham adds that it remains positive on the company’s growth initiatives to offset consumer weakness, including leaning in on the app which they can extract more data from to leverage a better in-app experience.