shares of Etsy Inc ETSY rose during Thursday’s premarket session to the results of the fourth quarter.

• Oppenheimer Analyst Jason Helstein reiterated an outperform rating while the price target was raised to $155 from $150.
• Needham Analyst Anna Andreeva maintained a Buy rating and price target of $160.
• Raymond James Analyst Rick Patel maintained an outperform rating and price target of 155.
• KeyBanc Capital Markets Analyst Noah Zatzkin reaffirmed a sector weight rating on the stock.
• Wolfe Research Analyst Deepak Mathivanan reiterated a peer perform rating on the stock.

Cash other stock reviews by analysts.

Oppenheimer

• “While once hailed as a temporary winner of the pandemic, ETSY continues to show sustainability: Despite reopening/shifting to headwinds for services, sales grew 13% YoY, reflecting value to the seller community and goal for consumers,” said Helpstein.
• “We are cautiously lowering our 2H-GMS growth estimate to 8% from 11%, although results have beaten guidance,” he added.

Needham

• “ETSY is arguably emerging from the pandemic as a stronger company, but the valuation is below its pre-pandemic average,” wrote Andreeva.
• “Comparisons decline significantly post-1Q23 (on a 3-year basis, 2Q23-4Q23 sales comparisons for core Etsy decline an average of 25 points post-1Q23) and profitability should improve as subs start to pare some of their losses ( after 400 bps drag this ’22),” she continued.

Raymond James

• “We are encouraged that GMS growth on a yearly/three-year basis has accelerated, a positive signal for demand,” Patel said.
• “If current demand trends continue, GMS 2H would post 10% year-on-year growth, but ETSY does not cite that volatile macro,” he added.

KeyBanc capital markets

• “GMS growth remained challenged in Q4 (-4%), with strong revenue growth (+13%) driven by the April take rate increase and outsized Etsy Ads growth,” Zatzkin wrote in a note.
• “The revenue guidance for the first quarter included a range that included both our and the consensus guidance.