Etsy Positioned for Growth on AI Search, Product Improvements, Oppenheimer Says

11:25 AM EDT, 09/15/2026 (MT Newswires) -- Etsy (ETSY) is benefiting from artificial intelligence search integration, product improvements and better app engagement, Oppenheimer said in a Monday note. Third-party data from SimilarWeb implies Q3 non-app buyers were flat year over year compared with a 3% decline in Q2, suggesting the high end of gross merchandise sales guidance is achievable, the investment firm said. A survey of 2,500 US consumers indicated that 88% of buyers went directly to Etsy's website or app rather than Google Search, demonstrating a strong competitive moat and less dependence on search engines, Oppenheimer said. The firm increased its 2026 and 2027 gross merchandise sales estimates by 1% and projected 5% growth in 2027 and 2028. Oppenheimer upgraded Etsy to outperform from perform and set a $90 price target. Price: 74.19, Change: -0.27, Percent Change: -0.36