Why Etsy Stock Struggled Thursday Morning
Shares of Etsy (NASDAQ: ETSY) slumped Thursday morning, tumbling as much as 6.9%. As of 2:48 p.m. ET, the stock was down 6.7%.
The catalyst that sent the e-commerce platform lower was a tepid take by a Wall Street analyst.
Bank of America analyst Curtis Nagle initiated coverage of Etsy stock with a neutral (hold) rating, while issuing a price target of $120. That represents potential gains for investors of roughly 15% over the coming year compared to Wednesday's closing price.
Source Fool.com
