Etsy Stock Rises After Oppenheimer Upgrades to Outperform
Etsy (NASDAQ:ETSY) shares rose 2.9% in premarket trading after Oppenheimer analyst Jason Helfstein upgraded the stock from Perform to Outperform, setting a $90 price target. The upgrade was based on potential benefits from AI search improvements and changes in app engagement and conversion rates. Oppenheimer noted that Etsy's third-quarter non-app buyer traffic remained stable year-over-year compared to a 3% decline in Q2, suggesting the company may be improving its performance outside of app-based sales. The firm raised its GMS estimate for fiscal 2026 by 1%, aligning it with upper Wall Street estimates and forecasting 5% annual growth through 2028. The analyst also cited a survey showing Etsy is becoming less reliant on Google Search, which could strengthen the company's competitive position. Oppenheimer’s $90 price target reflects a valuation discount to eBay despite similar expected growth rates.
Tickers: $ETSY
Topics: Etsy Oppenheimer price target stock upgrade