Etsy's Q3 Traffic Trends Raise Concerns, To See Macro And Competitive Pressures Drive Downside Risk, Says Analyst
Portfolio Pulse from Shivani Kumaresan
Wedbush analyst Seth Basham reiterates a neutral rating on Etsy Inc (NASDAQ:ETSY) with a price target of $70. The analyst sees downside risk to Q3 consolidated GMS guidance and consensus forecasts based on decelerating core website traffic trends. The analyst also notes potential macro and competitive pressures, including the restart of Federal student loan payments, exhausted pandemic savings, rising interest rates, and geopolitical tensions.
October 23, 2023 | 6:03 pm
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Etsy's Q3 earnings may face downside risk due to decelerating website traffic and potential macro and competitive pressures. The stock is currently trading at $65.02, below the analyst's price target of $70.
The analyst's neutral rating and the identified downside risks, including decelerating website traffic and potential macro and competitive pressures, could negatively impact Etsy's stock price in the short term.
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IMPORTANCE 80
RELEVANCE 100