Truist analyst Youssef Squali raised the firm’s price target on Etsy (ETSY) to $80 from $75 and keeps a Buy rating on the shares. The company’s Q3 results and Q4 outlook show that Etsy is making steady progress towards inflecting its GMS – gross merchandise sales – growth positively through improvements in Search, AI-powered recommendations, marketing efficiency and greater focus on app usage, which should re-ignite user growth and engagement, the analyst tells investors in a research note.
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