"Stifel has lowered its price target for ETSY to $45 from $51, maintaining a Hold rating, amid widespread revisions to digital advertising and e-commerce estimates."
"Despite advertising performance exceeding expectations, Stifel reports an overall decline in estimates for digital advertising, e-commerce, and marketplace growth amid rising consumer prices."
"The firm conveys a rare level of discomfort with their forward estimates for e-commerce and marketplace growth, noting the significantly challenging market conditions."
Stifel has reduced its price target for ETSY from $51 to $45, maintaining a Hold rating amid broader negative revisions in its digital advertising and e-commerce estimates. Although advertising metrics have held up better than anticipated, the firm foresees a slowdown or potential decline in e-commerce and marketplace growth as consumer prices rise. Stifel has expressed significant discomfort with forward estimates, indicating this is a rare sentiment outside of challenging times like COVID.
Read at TipRanks Financial
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