Etsy's stock surged 5.26% during pre-market trading on Friday, driven by a wave of positive analyst actions including significant upgrades and price target increases.

Several Wall Street firms issued bullish reports on the e-commerce platform. Barclays upgraded Etsy to Overweight from Equalweight and raised its price target to $72 from $62. Truist Securities also raised its price target to $83 from $80 while maintaining a Buy rating. Additionally, Bank of America increased its price target to $65 from $63, maintaining a Neutral rating.

Other analysts maintained positive stances, with BTIG and Needham both reiterating Buy ratings on the stock. These optimistic assessments from multiple research firms contributed to the strong pre-market performance as investors reacted to the improved outlook from Wall Street analysts.