06:00 AM EDT, 05/01/2025 (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:

We trim our 12-month target by $2 to $52, calculated using an EV/EBITDA multiple of 9.0x our 2025 adj-EBITDA of $746M (-5% Y/Y; cut from $765M) vs. 15x five-year average. We believe this discount is warranted given weak gross merchandise sales (GMS) trends, declining active buyers, and expected margin pressure in the coming quarters. On the positive side, ETSY ( ETSY ) remains relatively insulated from China tariffs, with only about 1% of Etsy GMS stemming from U.S. imports of items purchased from Chinese sellers. Depop (fashion marketplace) continues to perform well, with ETSY ( ETSY ) reporting its best-ever GMS quarter for Depop since the 2021 acquisition. On-site ad revenue also remains robust, helping to partially offset weak GMS trends amid a tough macro environment. With GMS declining in the mid-single digits and active buyer trends seemingly deteriorating, it remains difficult for us to take a more constructive view on ETSY ( ETSY ) shares. We cut our 2025 adj-EPS estimate to $4.67 from $4.74 and 2026 to $4.84 from $5.32.