CNBC Pro

Stifel says to buy the post-earnings dip in Etsy, upgrades stock

Etsy signage at the Nasdaq in New York.
Getty Images

Investors should step in and buy Etsy after its post-earnings slide, investment firm Stifel said in a note to clients.

Shares of e-commerce company shed nearly 15% on Thursday after Etsy's quarterly report, where the company warned of slowing growth in the months ahead when compared with last year's pandemic boom.

However, Stifel analyst Scott Devitt said this shouldn't come as a surprise and upgraded the stock to buy from hold.

More In Street Calls

Analysts name the top 'high conviction' stocks for playing the market turbulence
CNBC ProAnalysts name the top 'high conviction' stocks for playing the market turbulence
Here are Friday's biggest analyst calls: Apple, Tesla, Coinbase, Domino's, Costco, Meta & more
CNBC ProHere are Friday's biggest analyst calls: Apple, Tesla, Coinbase, Domino's, Costco, Meta & more
Wedbush upgrades fuboTV to outperform citing 'compelling entry point' after stock pullback
CNBC ProWedbush upgrades fuboTV to outperform citing 'compelling entry point' after stock pullback