---
title: "研究警報：CFRA 維持對 ETSY 公司股票的買入評級"
type: "News"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/284974736.md"
description: "CFRA 維持對 Etsy 的買入評級，將 12 個月目標價上調至 78 美元，基於 14 倍的企業價值/息税折舊攤銷前利潤（EV/EBITDA）倍數。他們將 2026 年的 EBITDA 預期提高至 8.14 億美元，每股收益（EPS）預期提高至 5.32 美元。Etsy 第一季度顯示總商品銷售（GMS）增長 5.5%，受一次性因素的推動。第二季度展望顯示持續增長，但下半年可能會面臨挑戰。客户指標正在改善，預計在 Depop 出售後將進行大規模股票回購"
datetime: "2026-05-02T17:45:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284974736.md)
  - [en](https://longbridge.com/en/news/284974736.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284974736.md)
---

# 研究警報：CFRA 維持對 ETSY 公司股票的買入評級

01:45 PM EDT, 05/02/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lift our 12-month target by $4 to $78, based on a 14x EV/EBITDA multiple applied to our 2026 EBITDA estimate of $814M (raised from $770M; +11% Y/Y growth). We lift our 2026 EPS to $5.32 from $4.62 and 2027's to $5.72 from $4.91. ETSY ( ETSY ) delivered a strong Q1 beat, with GMS rising 5.5% Y/Y and active buyers returning to modest Q/Q growth. That said, results benefited from several one-time tailwinds, including FX (a 190 bps lift to GMS) and higher average order values due to tariffs and the removal of de minimis. The company's Q2 outlook, calling for GMS growth of 3%-5% Y/Y, suggests near-term momentum is intact. The key debate shifts to the back half of the year, when comps become more challenging. We remain constructive, supported by improving customer metrics, including stabilizing repeat and habitual buyer trends, which we attribute to recent app enhancements (e.g., personalization, discovery). We also expect a sizable share repurchase following the $1.2B Depop sale, which is anticipated to close by Q3.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.

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