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Investing.com - Goldman Sachs has raised its price target on Etsy (NASDAQ:ETSY) to $57.00 from $48.00 while maintaining a Sell rating on the stock. This comes despite Etsy’s current trading price of $65.21, which has taken a significant hit with an 11.74% decline over the past week, according to InvestingPro data.
The firm noted that Etsy’s third-quarter 2025 gross merchandise sales (GMS) exceeded the company’s guided range, with continued strength in its Depop platform and slight sequential improvements in core Etsy business. The company maintains impressive gross profit margins of 72.2% with total revenue reaching $2.84 billion in the last twelve months.
Goldman Sachs highlighted the upcoming leadership transition, with CEO Josh Silverman stepping into the Chairman role while President and Chief Growth Officer Kruti Patel Goyal will become CEO and join the Board of Directors effective January 1, 2026.
The research firm pointed to Etsy’s ongoing investments in growth initiatives, including traffic diversification, customer loyalty programs, customer re-activation efforts, and Depop market positioning, which have limited the company’s forward margin outlook.
Goldman Sachs expects investor focus to remain on macroeconomic conditions and competitive pressures in the near term, while longer-term concerns center on Etsy’s ability to position itself among rising marketplace models targeting consumer discretionary spending on non-commoditized products.
In other recent news, Etsy reported strong third-quarter earnings, surpassing analyst expectations with gross merchandise sales (GMS) of $2.73 billion, revenue of $678 million, and EBITDA of $172 million. These results exceeded Street estimates by 2%, 3%, and 5%, respectively. Despite the positive earnings report, Evercore ISI downgraded Etsy’s stock from Outperform to In Line, although they slightly increased their price target to $73.00. Morgan Stanley also adjusted its price target for Etsy, raising it to $65.00 while maintaining an Equalweight rating. Canaccord Genuity and Truist Securities both raised their price targets to $80.00, citing solid third-quarter results and positive growth indicators. In contrast, BofA Securities lowered its price target to $73.00, referencing the impact of Etsy’s new partnership with OpenAI. This partnership includes features like Instant Checkout and a new Etsy Payments integration. These developments reflect a mix of optimistic and cautious sentiments among analysts regarding Etsy’s future performance.
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