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Investing.com - BTIG raised its price target on Etsy (NASDAQ:ETSY) to $72.00 from $58.00 on Wednesday, while maintaining a Buy rating on the e-commerce platform. The company, currently valued at $6.7 billion, is trading below its InvestingPro Fair Value, suggesting potential upside opportunity.
The upgrade follows Etsy’s report of improving gross merchandise sales (GMS) trends as its recent quarter progressed, with the company providing a third-quarter outlook showing sequentially better year-over-year growth despite challenging consumer spending conditions.
BTIG noted that guidance of $2.6-$2.7 billion implies approximately $2.4 billion in core Etsy.com sales, representing about a 110 basis point improvement in growth compared to the second quarter’s 5.4% decline in Etsy.com GMS.
The research firm highlighted that GMS per buyer turned positive year-over-year starting in May and continued into June, even on a foreign exchange-adjusted basis, with currency boosting growth by 90 basis points in the quarter.
Despite these positive trends, BTIG acknowledged that Etsy’s active buyer count fell more than expected, coming in at 87.3 million versus their forecast of 87.9 million.
In other recent news, Etsy Inc . disclosed its Q2 2025 earnings, showing a mixed outcome. The company’s earnings per share (EPS) came in at $0.25, missing the projected $0.48. However, Etsy surpassed revenue expectations, reporting $672.7 million compared to the anticipated $646.86 million. This revenue beat highlights a positive aspect for the company despite the EPS shortfall. These developments are part of the latest financial updates from Etsy.
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