Goldman Sachs downgrades Etsy to 'Sell' due to sales declines and market share concerns

From Stocktwits: 2024-10-15 07:50:28

Goldman Sachs downgraded Etsy Inc to ‘Sell’ from ‘Neutral,’ citing sustained sales declines and low visibility on future growth. The price target was reduced to $45 from $70, with concerns about Etsy losing market share in global e-commerce. Retail sentiment on Stocktwits shifted to ‘neutral,’ with high chatter and a bearish outlook due to fierce competition from e-commerce giants like Amazon. Etsy shares dropped over 4% in pre-market trading, nearing four-and-a-half year lows. The brokerage warned of further downside risk and cautioned on the overall risk/reward profile for investors.



Read more at Stocktwits: Retail Sentiment Takes A Hit