Etsy up after BTIG upgrade on improved buyer trends, cost cuts

Etsy

18/09/2026 11:58

** Etsy ETSY.N shares up 2% premarket to $73.81
** BTIG raises the marketplace to "buy" from "neutral"; sets $90 PT — about 27% from current levels
** Brokerage says pullback in shares creates significantly better risk-reward for investors; ETSY down ~4% QTD 
** BTIG says 12% workforce reduction in Aug cuts $35-$45 mln in expenses annually
** ETSY's buyer growth is better than expected; it reactivated 7.1 mln lapsed buyers in 2Q26, ahead of brokerage's estimates of 6.95 mln - BTIG 
** Says free cashflow yield on stick has risen ~150 bps since July, outpacing the rise in 10-year Treasury yields, more than compensating investors     
** Earlier this week Oppenheimer upgraded stock to "outperform"
** Average rating of 33 analysts is "hold"; their median PT is $90 - data compiled by LSEG
** Up to last close, stock has risen 30% YTD

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com))