Canaccord lowered the firm’s price target on Etsy (ETSY) to $72 from $80 and keeps a Buy rating on the shares. The firm said Etsy reported Q4 results that were broadly in line with expectations. Following yesterday’s announcement of the proposed Depop sale to eBay for $1.2B, the focus of the call centered around the core Etsy Marketplace, which saw GMS increase slightly benefiting from a modest FX tailwind as well as the favorable spending pattern in certain marketing channels.
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