Deutsche Bank has revised its outlook on Etsy (ETSY, Financial), reducing the price target for the stock from $43 to $40 while maintaining a Hold rating. The adjustment comes as Etsy's assumption of a stable macroeconomic environment contrasts with growing pressures on discretionary consumer spending in the U.S.
The analyst, Lee Horowitz, anticipates that these economic challenges could negatively impact Etsy's performance in the upcoming quarters. Unlike eBay, Etsy's projections for the latter half of the year appeared optimistic, suggesting improved sales trends compared to the first half. However, the increasing strain on consumer finances is likely to necessitate a downward revision of Etsy's earnings estimates soon.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 29 analysts, the average target price for Etsy Inc (ETSY, Financial) is $55.50 with a high estimate of $92.45 and a low estimate of $40.00. The average target implies an upside of 27.29% from the current price of $43.60. More detailed estimate data can be found on the Etsy Inc (ETSY) Forecast page.
Based on the consensus recommendation from 35 brokerage firms, Etsy Inc's (ETSY, Financial) average brokerage recommendation is currently 2.7, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Etsy Inc (ETSY, Financial) in one year is $91.25, suggesting a upside of 109.29% from the current price of $43.6. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Etsy Inc (ETSY) Summary page.
