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Buy the dip in Etsy shares heading into the holiday season, says Wedbush

Executives of Etsy applaud as they open the Nasdaq MarketSite ahead of Etsy's initial public offering in New York, April 16, 2015.
Michael Nagle | Bloomberg | Getty Images

With new shipping and advertising initiatives in the pipeline for Etsy, the pullback in shares of the e-commerce company, is a buying opportunity for the stock, according to Wedbush.

The firm upgraded the stock to outperform from neutral and slightly raised its price target to $66 from $64. Etsy's share price was last around $54 per share.