Etsy price target raised to $85 from $65 at Needham

Needham analyst Bernie McTernan raised the firm’s price target on Etsy (ETSY) to $85 from $65 and keeps a Buy rating on the shares after its Q1 results. The quarter marked a key inflection with the company returning to GMS – gross merchandise sales – growth, driven by product improvements across discovery and personalization, the analyst tells investors in a research note.