Etsy price target raised to $57 from $48 at Goldman Sachs

Goldman Sachs raised the firm’s price target on Etsy (ETSY) to $57 from $48 and keeps a Sell rating on the shares. Etsy’s Q3 results showed GMS exceeding guidance, steady Depop momentum, and ongoing investments in traffic diversification, customer retention, and loyalty initiatives, the analyst tells investors in a research note. Leadership changes signal a stronger emphasis on growth recovery under incoming CEO Kruti Patel Goyal, while the OpenAI partnership was clarified as an opportunity for brand and seller exposure without added seller fees. Despite these positives, the current valuation and macro pressures lead to a less favorable risk/reward outlook, Goldman says.