Buckley Merilee sold $32K of ETSY

Pinterest (PINS) beat Q2 estimates with $1.18B revenue and 43 cents EPS but guided slower Q3 growth (13-15%), causing a 9% drop in extended trading. Etsy (ETSY) beat estimates and raised its full-year sales outlook but cut 12% of staff. Both companies saw reduced hedge fund interest.

Walmart, Amazon, and Target reported Q2 earnings showing AI-driven sales growth. Walmart's eCommerce grew 23%, with AI assistant users spending 40% more. Amazon's Alexa for Shopping saw active users nearly double. Target's digital traffic from AI platforms grew over 3.5x faster than the industry average. Albertsons saw a 10-26% increase in order value with AI tools. Shopify's AI-referred traffic and orders tripled, but AI's impact on discovery-driven retail remains uncertain.

Bank of America upgraded Etsy to Buy, raising its price target to $105 from $88, citing structural growth. The bank expects mid-single-digit gross merchandise sales growth, higher profitability, and increased shareholder returns. Etsy's new management team is seen as key to reinvigorating growth. BofA raised its fiscal 2027 estimates for gross merchandise sales, EBITDA, and EPS.

Rosenblatt Securities initiated coverage of Etsy, eBay, and Chewy. Etsy (ETSY) received a Buy rating with a $95 target, citing improving sales and margins. eBay (EBAY) also got a Buy rating with a $120 target, highlighting GMV growth and AI-driven tools. Chewy (CHWY) was rated Neutral with a $25 target, noting strong execution but limited upside.

BofA Securities upgraded Etsy (ETSY) to Buy, citing durable growth and potential for $1B+ in share buybacks. The brokerage raised its price target to $105 and increased 2027 estimates for GMV growth, EBITDA, and EPS, noting strong mobile engagement and execution under CEO Kruti Patel Goyal.

Deere shares rose 5.1% after reporting stronger-than-expected Q3 results, with EPS of $5.10 and net sales of $11B. CrowdStrike fell 2.8% following its CTO's departure. Advance Auto Parts dropped 15.9% due to lower normalized earnings. Etsy gained 3.9% after a BofA upgrade. Ultragenyx surged 11.1% on FDA approval for a gene therapy. Moderna fell 13% after a prior surge. Wolfspeed plunged 10.5% on wider-than-expected Q4 loss. Webull rose 13.8% on strong Q2 results.