Is Etsy (ETSY) Stock Finally Turning a Corner? Oppenheimer Thinks So
TLDR
- Oppenheimer upgraded Etsy from Perform to Outperform with a $90 price target, implying 21% upside
- Etsy stock rose 2.9% in premarket trading Tuesday and is up 34% year-to-date
- Analyst Jason Helfstein cited AI search improvements, better app engagement, and stronger conversion rates
- A survey of 2,500 U.S. consumers found 88% went directly to Etsy’s site or app rather than Google Search
- Oppenheimer raised its FY26 GMS estimate to a street high and forecasts 5% GMS growth in FY27 and FY28
Etsy stock jumped 2.9% in premarket trading Tuesday after Oppenheimer upgraded the stock from Perform to Outperform, setting a $90 price target. That target represents 21% upside from Monday’s closing price.
The upgrade was driven by analyst Jason Helfstein, who pointed to AI-powered search improvements, better product discovery, and stronger app engagement as key reasons for the more bullish stance.
Etsy’s stock is up 34% year-to-date, compared to 11% for the S&P 500.
AI Search Reducing Dependence on Google
One of the more telling data points from Oppenheimer’s research is how Etsy shoppers are finding the platform. A survey of 2,500 U.S. consumers found that 88% went directly to Etsy’s website or app instead of using Google Search.
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