Oppenheimer analyst Jason Helfstein upgraded Etsy to Outperform from Perform with a $64 price target. The stock in premarket trading is up 9% to $55.25. The company last night reported a strong growth in Q4 and guided fiscal 2020 gross merchandise sales above the Street, Helfstein tells investors in a research note. Etsy smartly pivoted its seller lead-generation strategy to an outcome-based model and reset Etsy Ads to Promoted Listing to the delight of sellers, says the analyst. He believes this should push the company's take-rates above 20% over time and closer to Shopify (SHOP) and Amazon.com (AMZN) for business sellers.