Etsy (NASDAQ:ETSY) Earns Neutral Rating from Cantor Fitzgerald

Etsy (NASDAQ:ETSY)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Monday, Benzinga reports. They presently have a $50.00 target price on the specialty retailer’s stock. Cantor Fitzgerald’s price objective would indicate a potential downside of 7.30% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Wedbush reaffirmed a “neutral” rating and set a $65.00 target price on shares of Etsy in a report on Monday, July 22nd. Stifel Nicolaus decreased their price objective on shares of Etsy from $65.00 to $64.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Loop Capital cut their price objective on shares of Etsy from $50.00 to $45.00 and set a “sell” rating on the stock in a research note on Monday, August 12th. Piper Sandler reissued a “neutral” rating and set a $56.00 target price on shares of Etsy in a report on Friday, August 23rd. Finally, Evercore ISI raised shares of Etsy to a “strong-buy” rating in a report on Thursday, August 1st. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Etsy has a consensus rating of “Hold” and a consensus target price of $70.61.

Etsy Trading Up 0.1 %

Shares of NASDAQ ETSY traded up $0.03 during midday trading on Monday, reaching $53.94. The company had a trading volume of 613,359 shares, compared to its average volume of 3,777,148. Etsy has a 1 year low of $50.63 and a 1 year high of $89.58. The business’s 50-day simple moving average is $56.67 and its 200 day simple moving average is $61.43. The stock has a market cap of $6.31 billion, a P/E ratio of 24.63, a P/E/G ratio of 5.10 and a beta of 1.97.

Etsy (NASDAQ:ETSY) last issued its earnings results on Wednesday, July 31st. The specialty retailer reported $0.41 earnings per share (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 analysts’ expectations of $629.87 million. Etsy had a negative return on equity of 51.94% and a net margin of 10.36%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. Analysts predict that Etsy will post 2.38 earnings per share for the current year.

Insider Transactions at Etsy

In related news, insider Nicholas Daniel sold 750 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $55.40, for a total value of $41,550.00. Following the completion of the transaction, the insider now directly owns 18,083 shares of the company’s stock, valued at approximately $1,001,798.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 2,000 shares of company stock valued at $116,395 over the last ninety days. Insiders own 2.60% of the company’s stock.

Institutional Trading of Etsy

Several large investors have recently bought and sold shares of ETSY. Sunbelt Securities Inc. boosted 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 worth $30,000 after purchasing an additional 429 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Etsy by 402.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 447 shares of the specialty retailer’s stock valued at $36,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC lifted its position in Etsy by 1,576.5% during the first quarter. Larson Financial Group LLC now owns 570 shares of the specialty retailer’s stock worth $39,000 after buying an additional 536 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in Etsy by 56.4% during the fourth quarter. Quadrant Capital Group LLC now owns 688 shares of the specialty retailer’s stock worth $56,000 after buying an additional 248 shares during the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new stake in Etsy in the 2nd quarter valued at $42,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

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.