Canaccord lowered the firm’s price target on Etsy (ETSY) to $62 from $72 and keeps a Hold rating on the shares. The firm said they reported mixed Q1 results, with active buyers and GMS coming in just ahead of consensus while revenue and profitability were modestly better than expected. Top-line metrics remained under pressure, with consolidated GMS down in the mid-single-digits and Etsy Marketplace GMS down roughly 9% year-over-year.
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Read More on ETSY:
- Etsy’s Modest Growth Amid Macroeconomic Challenges: Hold Rating Maintained
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- Etsy’s Earnings Call: Mixed Results Amid Challenges
- Etsy price target lowered, removed from ‘Tactical Underperform’ list at Evercore
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