ETSY - Etsy's Q3 Traffic Trends Raise Concerns To See Macro And Competitive Pressures Drive Downside Risk Says Analyst | Benzinga
Wedbush analyst Seth Basham reiterates a Neutral rating on the shares of Etsy Inc (NASDAQ: ETSY) with a price target of $70.
Etsy is slated to report its third-quarter FY23 earnings on Wednesday, November 1.
The analyst sees downside risk to Q3 consolidated GMS guidance (-2% to +3% y/y) and consensus forecasts (+0.7% y/y) based on decelerating core website traffic trends.
Based on Similarweb data, Etsy.com engaged website traffic decelerated through the quarter from +8% y/y in July, to only +1% y/y in August ...