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.
