Oppenheimer Ups Etsy Rating and Sets $90 Target on AI Search Growth

Oppenheimer has upgraded Etsy to outperform and set a $90 price target, implying a 21% upside. Analyst Jason Helfstein cited AI search benefits, product improvements, and stronger app engagement/conversion as the rationale. A recent Oppenheimer survey shows consumers are shifting away from Google Search toward AI tools for product discovery, and Adobe Analytics reported that nearly half of U.S. shoppers used AI for online purchases in June. This trend is expected to boost Etsy’s sales and stock performance, prompting Oppenheimer to forecast a 5% increase in gross merchandise sales growth over the next two years, even as the platform faces competition in the handmade market. The firm’s poll also highlighted that shoppers notice improved product listings and descriptions, making discovery easier and driving sales. Oppenheimer’s bullish call stands out against the broader analyst consensus, with 20 of 33 reviewers holding a hold rating and 12 favoring buy or strong buy. Etsy shares have risen 24% year‑to‑date and gained 2% in premarket trading following the upgrade.

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