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

Etsy signage at the Nasdaq in New York.
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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.

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