Etsy, Inc. (NASDAQ:ETSY) Receives $70.61 Average Price Target from Analysts

Etsy, Inc. (NASDAQ:ETSY) has been given an average rating of “Hold” by the twenty-four research firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a sell recommendation, twelve have assigned a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $70.61.

A number of analysts have commented on ETSY shares. Wells Fargo & Company cut their price target on shares of Etsy from $58.00 to $56.00 and set an “underweight” rating for the company in a research note on Tuesday, June 25th. Loop Capital cut their target price on shares of Etsy from $50.00 to $45.00 and set a “sell” rating for the company in a research note on Monday, August 12th. Truist Financial cut their target price on shares of Etsy from $77.00 to $76.00 and set a “buy” rating for the company in a research note on Thursday, August 1st. Evercore ISI upgraded shares of Etsy to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Cantor Fitzgerald initiated coverage on shares of Etsy in a research note on Thursday, September 5th. They set a “neutral” rating and a $50.00 target price for the company.

Insider Buying and Selling at Etsy

In other Etsy news, insider Nicholas Daniel sold 750 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $59.74, for a total value of $44,805.00. Following the transaction, the insider now directly owns 18,833 shares of the company’s stock, valued at approximately $1,125,083.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 2,000 shares of company stock valued at $116,395 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Etsy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sunbelt Securities Inc. grew its holdings in shares of Etsy by 3,900.0% during the 1st quarter. Sunbelt Securities Inc. now owns 440 shares of the specialty retailer’s stock valued at $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Etsy by 402.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock worth $36,000 after buying an additional 358 shares during the period. Larson Financial Group LLC boosted its position in Etsy by 1,576.5% during the 1st quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in Etsy during the 2nd quarter worth approximately $42,000. Finally, Principal Securities Inc. acquired a new stake in Etsy during the 4th quarter worth approximately $47,000. 99.53% of the stock is owned by institutional investors.

Etsy Price Performance

Shares of ETSY stock opened at $54.00 on Monday. The stock has a market cap of $6.31 billion, a P/E ratio of 24.55, a P/E/G ratio of 5.10 and a beta of 1.98. The company has a fifty day moving average price of $56.96 and a two-hundred day moving average price of $61.73. Etsy has a one year low of $50.63 and a one year high of $89.58.

Etsy (NASDAQ:ETSY) last announced its quarterly earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The firm had revenue of $647.80 million during the quarter, compared to analyst estimates of $629.87 million. Etsy had a net margin of 10.36% and a negative return on equity of 51.94%. The business’s revenue was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. As a group, equities research analysts anticipate that Etsy will post 2.38 EPS for the current fiscal year.

About Etsy

Etsy, Inc, together with its subsidiaries, operates two-sided online marketplaces that connect buyers and sellers in the United States, the United Kingdom, Germany, Canada, Australia, and France. Its primary marketplace is Etsy.com that connects artisans and entrepreneurs with various consumers. The company also offers Reverb, a musical instrument marketplace; Depop, a fashion resale marketplace; and Elo7, a Brazil-based marketplace for handmade and unique items.