Oppenheimer Sees Etsy Stock Turning Corner with Price Target of $90

Etsy's stock received a boost after Oppenheimer upgraded it from Perform to Outperform, setting a price target of $90. This represents a 21% upside from Monday's closing price.

The upgrade was driven by analyst Jason Helfstein, who cited AI-powered search improvements and better app engagement as key reasons for the more bullish stance.

A survey of 2,500 U.S. consumers found that 88% went directly to Etsy's website or app instead of using Google Search, reducing the platform's dependence on the search engine.

The analyst also noted that AI-driven search improvements appear to be working, with 65% of consumers polled saying they were 'very' or 'somewhat' likely to buy an item on Etsy.