Argus Upgrades Etsy (ETSY) to Buy, 'encouraged by the improved metrics'

Argus analyst Taylor Conrad upgraded Etsy (NASDAQ: ETSY) from Hold to Buy with a price target of $67.00.

The analyst comments "ETSY shares have outperformed over the past quarter, rising 29% compared to a gain of 7% for the S&P 500 index and a decline of 2% the Consumer Discretionary sector ETF IYC. • Metrics such as active buyers and growth in GMS (gross merchandise sales) per active buyer appear to be improving as the company benefits from personalization and machine learning initiatives. • We are encouraged by the improved metrics and the opportunities related to the company's implementation of AI."

For an analyst ratings summary and ratings history on Etsy click here. For more ratings news on Etsy click here.

Shares of Etsy closed at $68.73 yesterday.

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