12:20 PM EDT, 04/22/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

Ahead of ETSY's ( ETSY ) Q1 results on April 29, we raise our 12-month target to $74 from $62, based on a 14x EV/EBITDA multiple applied to our 2026 EBITDA estimate of $770M (+5% Y/Y). Shares have outperformed (+14% YTD; +37% since March 30 vs. +11% for the S&P 500), led by improving macro data, including benign inflation, a firm labor market, and strong retail sales, supported by higher-income spending and tax refunds (tax refunds were up about 11% Y/Y on average). For Q1, we expect some top-line noise due to portfolio changes, including the Reverb divestiture and the pending sale of Depop to eBay. Offsetting this, we expect margin expansion, as Depop has historically been a lower-margin business. We forecast Q1 adj-EBITDA of $170M, down 1% Y/Y, with adj-EBITDA margins expanding 200 bps Y/Y to 28.3%.