Etsy, Inc.: Key takeaways from virtual meeting with Investor Relations

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Etsy, Inc.: Key takeaways from virtual meeting with Investor Relations

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Etsy, Inc.

Key takeaways from virtual meeting with

Investor Relations

Maintain Rating: NEUTRAL | PO: 75.00 USD | Price: 66.78 USD

Shift to conversational search can be a positive catalyst 29 May 2026

Yesterday, we hosted Etsy VP of IR Deb Wasser & Sr. Manager of IR Annie Fan for a Equity

virtual meeting with Investors. We thought the tone was positive, especially on Agentic &

Michael McGovern

Conversational search, marketing efficiency, and capital allocation. No new guidance was Research Analyst

provided. On Agentic, Etsy framed Conversational Search as a meaningful new discovery BofAS +1 415 676 3520

channel, similar to how Google & PLAs once expanded discovery. Etsy’s customized & mmcgovern@bofa.com

unbranded inventory and its focus on experiences (i.e. gifting & holidays) are two

dynamics that lend themselves to improved CX from Conversational vs. keywords &

filters. Etsy will continue to be “early” in AI, including its new native ChatGPT app. The Stock Data

evolution of the OpenAI integration from Instant Checkout to the native app represents a

shift from Etsy solely supplying a static feed (with OpenAI controlling user experience) to Price 66.78 USD

OpenAI now being able to query Etsy’s backend directly, enabling Etsy to process the Price Objective 75.00 USD

request, determine the recommendations returned, and drive a positive feedback loop Date Established 28-May-2026

that also provides incremental visibility into user data. Also, personalization is not lost in Investment Opinion C-2-9

an agentic world, as Etsy can keep experiences relevant even for off-platform traffic. 52-Week Range 44.00 USD - 76.52 USD

Mrkt Val (mn) / Shares Out 6,337 USD / 94.9