Shares of Etsy Inc (NASDAQ: ETSY) were down during early morning trading on Thursday, after the company reported its fourth-quarter results.
The results came amid an exciting earnings season. Here are some key analyst takeaways from the release.
Wedbush On Etsy
Analyst Seth Basham maintained a Neutral rating, while reducing the price target from $85 to $80.
Etsy reported its fourth-quarter sales and earnings ahead of expectations, “but a subdued forward outlook following a soft January and incremental advertising/platform investments led to a disappointing outlook,” Basham said in a note.
“The company is confident that it is at least maintaining share in the competitive e-commerce landscape, but consumers’ preference for lower-cost alternatives in this weak macro environment, fierce competition in performance marketing channels and limited value creation opportunities through activism leave us NEUTRAL on ETSY,” he added.
Needham On Etsy
Analyst Anna Andreeva reiterated a Buy rating and price target …
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