Buy the dip in Etsy shares heading into the holiday season, says Wedbush

Share
Executives of Etsy applaud as they open the Nasdaq MarketSite ahead of Etsy's initial public offering in New York, April 16, 2015.
Michael Nagle | Bloomberg | Getty Images

With new shipping and advertising initiatives in the pipeline for Etsy, the pullback in shares of the e-commerce company, is a buying opportunity for the stock, according to Wedbush.

The firm upgraded the stock to outperform from neutral and slightly raised its price target to $66 from $64. Etsy's share price was last around $54 per share.

More In Pro News and Analysis

CNBC ProPeloton, Lululemon, Apple and others are betting the fitness-at-home shift is here to stay
CNBC ProJPMorgan says investors need to shake off 'FANG fatigue' and buy the Big Tech stocks again
CNBC ProMike Santoli’s market notes: Young unafraid money still buying, key S&P 500 levels, the GM case