Goldman Sachs Upgrades Etsy to 'Hold' After Missed Earnings

The Goldman Sachs Group has upgraded Etsy (NYSE:ETSY) to a 'hold' rating, according to Zacks.com. This change was made public on Monday.

This is not the only recent development for Etsy. Earlier this month, the company reported quarterly earnings that fell short of expectations, with a loss per share of $0.49 and revenue of $668.31 million.

Other analysts have also weighed in on Etsy's prospects. Morgan Stanley set a target price of $73.00, while Cantor Fitzgerald increased its target from $80.00 to $85.00.

Etsy has seen significant insider activity recently, with the company's CAO selling 881 shares and the firm's management investing $1 billion in buybacks through stock repurchases.