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BTIG downgrades Etsy to Neutral despite strong mobile app sales growth.

Analyst Insights
16 Jul 2026
Andrew Wynn
View Source
Neutral
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Analyst firm BTIG downgraded Etsy from Buy to Neutral, reflecting caution despite Etsy's strong mobile app performance. Etsy's mobile app Gross Merchandise Sales grew 11.2% year-over-year in Q1 2026, now making up 47% of total marketplace sales, boosted by AI-driven personalization. The stock has risen 40.5% in three months, and active buyers are growing again after a decline. However, concerns about weakening order-value growth led to the cautious outlook, signaling mixed investment signals.

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