Etsy price target raised to $80 from $72 at Canaccord

Canaccord raised the firm’s price target on Etsy (ETSY) to $80 from $72 and keeps a Buy rating on the shares. The firm Etsy reported solid Q1 results for the standalone Etsy Marketplace, with active buyers growing sequentially for the first time in two years, GMS growth accelerating to the MSD range, and both take rate and profitability coming in above expectations.