RBC Capital analyst Mark Mahaney raised his price target on Etsy to $52 after its Q3 results showed "strong and improving fundamentals" marked by "growth acceleration and margin expansion". The analyst cites a "robust" gross merchandise sales growth of 20.8% at $923M - above the consensus $914M - along with a net 60K in net Active Seller adds, while also raising his FY19 revenue view to $774M from $764M. Mahaney keeps his Sector Perform rating on Etsy however, noting "competition from a number of fronts, and executional challenges as it ramps in scale".